Where do you record your minister’s housing allowance taken to offset pasty of your 403 withdrawals if you are a retired minister.
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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.
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.
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.
You can enter the Miscellaneous Income under Less Common Income- you will be able to enter a description. (Example Taxable Income/Housing Allowance.) @dompedrothompson
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