@Movie1 wrote:
Thanks! I just learned of this! So... Does Turbo Tax Factor it in?
If you don't have a W-2, you need to enter your housing allowance as if you were self-employed. You won't have a 1099-MISC or a 1099-NEC either. You will need to create a self-employed business in Turbotax. If using Turbotax Online, that means upgrading to the most expensive version (Turbotax Self-Employed). If your total income is less than $39,000 you can use the Turbotax/IRS free-file version which will include a business without cost.
https://freefile.intuit.com
When you create the business, you will answer some questions like do you actively participate and is it an at-risk business (yes to both). You will be asked for a job code, use 813000. This will cause Turbotax to ask about your housing allowance, and you should see the screens that Ernie copied, that ask about your housing allowance and your schedule SE adjustments.
However, since your entire income is housing allowance, you won't have business income or business expenses, just the schedule SE adjustments for mileage.
