by Charles
(Milwaukee, WI)
Next year we'll be renting until August-September, then moving into a new condo we're purchasing. I'll still be serving the same congregation as its pastor the whole year.
Can I base my 2017 parsonage allowance I have the congregation declare on the fair rental value of my new condo that I'll be living in at the end of the year?
1Comments
Parsonage allowance for new condo
LLewis in NC
Yes, this sounds like a good plan--would base it on the fair rental value of the new condo furnished. When you file your 2017 taxes in 2018 you can make adjustments for conciliatory taxes at that time. It would be better to overestimate the amount needed for your housing allowance than to underestimate the amount you need for them in 2017 or any year.