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Retirement tax questions
Your housing allowance is taxable income if it is more than your qualified expenses. Your qualified expenses are mortgage, utilities, and a few other things. Turbotax won't let you enter a bigger number for qualified expenses, so if your qualified expenses are equal or more than the housing allowance, use the same number in both places. If your qualified expenses were less than the housing allowance, enter the smaller number, and the difference will be added to your taxable income.
‎June 4, 2019
12:05 PM