by Jason
I am a youth pastor who is in his 2nd year of owning home. I have a large housing allowance designated by my church and am wondering if I can include extra payments against the principal of my home loan as housing allowance expenses? Thanks!
2Comments
Thanks!
AAnonymous
Thanks for the response!
Extra equity payments
LLewis in NC
Down-payments on a home can be included in clergy housing allowances, so I see no reason why extra equity payments couldn't.
These need to be included in the housing allowance prior to the year they are included in the housing allowance exclusion.
The church governing body may also amend the housing allowance to include these as well (For example: to be made between now and the end of the year).
These need to be included in the housing allowance prior to the year they are included in the housing allowance exclusion.
The church governing body may also amend the housing allowance to include these as well (For example: to be made between now and the end of the year).