Perhaps! When you enter the fair market value of the parsonage allowance, it asks for the actual cost of the expenses for your parsonage.
Enter the lowest of these amounts:
- Your qualified housing expenses
- The fair rental value of your housing expenses plus utilities
- Your housing or parsonage allowance
If you received more than you used to pay for your qualifying expenses, it still has to be included in your gross income. Don't worry, we will do the calculation for your based on the amounts you enter.
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