Gift of Parsonage to Preacher

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.

Comments for Gift of Parsonage to Preacher

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Dec 24, 2020

PLEASE Consult a Tax Professional
by: Vickey

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

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