Housing question transitioning from called part of the year to receiving housing equity money...
If one has a housing allowance of $21000 for the year and ends the call in April and at the same time withdraws housing equity funds from church sponsored pensions what can be claimed as housing?
So, for example, say fair rental value furnished is $2000 a month. From January to April, while under call and because of paying down the mortgage I had actual expenses for the first four months under call of $14000.
In May I ended the call and began taking funds from pension, in addition for the May to December period my actual expenses were $10,000.
Can I claim the $14,000 paid Jan to April while under call as housing since it is below the housing allowance set....and can I also claim the $10000 paid by my church sponsored pension as housing since all those funds are paid out as housing?
This would fall at or below fair rental value furnished....but it would also be $4000 over what the congregation set. (though that call ended in April.)