403 and minister’s housing allowance

Forum|Forum|1 year ago
January 26, 2025
2 replies
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Where do you record your minister’s housing allowance taken to offset pasty of your 403 withdrawals if you are a retired minister.

Best answer by MaryK4

In TurboTax, you will make the adjustment for the tax free housing allowance when you enter your 1099-R entry for the Box 2 Taxable Amount.

See How do I enter a parsonage or housing allowance on a 1099-R? for the Step-by Step.

MaryK4Answer

Level 15

In TurboTax, you will make the adjustment for the tax free housing allowance when you enter your 1099-R entry for the Box 2 Taxable Amount.

See How do I enter a parsonage or housing allowance on a 1099-R? for the Step-by Step.

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dompedrothompsonAuthor

Level 2

Thanks. In my case 100% of my 403 is declared as housing allowance. So 2a tax amt is 0. Therefore, would I declare in misc income the amount of the gross dist that was more than my housing allowance? Example: Line 1 = $20000. Line 2a = 0 since 100% is declared housing allowance. Actual housing expense =$12000. So misc income = $8000? Thank you so much.

MaryK4

Level 15

You can enter the Miscellaneous Income under Less Common Income- you will be able to enter a description. (Example Taxable Income/Housing Allowance.) @dompedrothompson