Sale of a Personal Residence

by Troy

If a minister purchased their home with a housing allowance, do they still get to benefit from the exclusion from income related to gains on the sale of your home?

Comments for Sale of a Personal Residence

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May 21, 2015
Just a guess on this ?
by: Lewis in NC

I would guess "yes" on this because of being able to also deduct mortgage interest expense on Sch. A of 1040 in addition to claiming mortgage interest expense in a church approved housing allowance, but I would suggest that you call the IRS toll free number on this. (1-800-1040 I believe is the tele. #) just to be certain.

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