For clergy who are living permanently in a nursing home, they can use some (but not all) of their nursing home expenses for the housing allowance. For example, the rental cost of their room and the utilities are eligible for the housing allowance. The food and medical...
Housing Allowance
Does the Mortgage for a Home That is Being Constructed Qualify for the Housing Allowance?
Question: Can I Deduct the Mortgage for a Home That is Being Constructed? Does it qualify for the housing allowance? Answer: The IRS allows for taxpayers to deduct all of the interest they pay on a construction loan within the 24 months before the home is completed....
Can you modify housing allowance mid-year?
Can you modify housing allowance mid-year? The Housing Allowance can be amended (changed) as often as needed. We always recommend overestimating when designating a housing allowance. The goal would be to have enough of a buffer in the designation to end up with...