Yes, you will enter the amount on your W-2 from Box 14. After you enter your Form W-2 you will be asked some additional questions. On the screen that says "Let's check for uncommon situations" you will check the box "Religious Employment" You will also see a screen that says "Let's dig into your religious employment" on that screen you will select "Clergy."
This will let TurboTax know that your housing allowance in Box 14 is not taxable.
A minister's housing allowance (sometimes called a parsonage allowance or a rental allowance) is excludable from gross income for income tax purposes.
Your TurboTax screens will look something like this:
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