by Michaelraj
(New York)
I work in two places, one is a hospice chaplain and a church pastor. These two places that offer housing allowances, is it legally correct to receive housing allowances from both places? please help.
1Comments
Housing Allowance Limitations
VVickey
It's not a question on whether or not you can receive a housing allowance from multiple organizations( as far as I know there is no legal reason why you could not)...
HOWEVER...
you can only claim the lesser of 3 amounts (see the page on housing allowance on this site...for those 3 amounts)as your actual housing "exclusion".
One of the 3 amounts that your tax preparer will look at is ... the eligible actual housing expenses for ONE home.
So, just be aware that if both places paid you housing allowances "over" your actual housing expenses or FMRV plus furnishings and utilities...
the "extra" will have to be reported as taxable income.
HOWEVER...
you can only claim the lesser of 3 amounts (see the page on housing allowance on this site...for those 3 amounts)as your actual housing "exclusion".
One of the 3 amounts that your tax preparer will look at is ... the eligible actual housing expenses for ONE home.
So, just be aware that if both places paid you housing allowances "over" your actual housing expenses or FMRV plus furnishings and utilities...
the "extra" will have to be reported as taxable income.