by Mike
(Lake Jackson, Texas, 77566)
The church gave the preacher the parsonage via a Gift Deed.
Value of the house/property is about $215K.
At year end, do we need to provide a 1099 (MISC? or other). He is paid a small salary that is reported on a 1099MISC.
1Comments
PLEASE Consult a Tax Professional
VVickey
Please consult a knowledgeable tax attorney asap!
Your church could face serious tax consequences with that "gift".
DO NOT issue a 1099 before consulting a tax attorney!
I can highly recommend Frank Sommerville: https://www.wkpz.com/attorney/frank_sommerville
Your church could face serious tax consequences with that "gift".
DO NOT issue a 1099 before consulting a tax attorney!
I can highly recommend Frank Sommerville: https://www.wkpz.com/attorney/frank_sommerville