Housing Allowance for Extra Home Loan Payments?

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!

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May 07, 2016
Extra equity payments
by: Lewis 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).

May 07, 2016
by: Anonymous

Thanks for the response!

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