Retired pastor receives gift from church.

by Eugene
(New York, NY)

Church donates a home to retiring pastor, what are the tax consequences to him?

1Comments

Consequences for Retiring Pastor AND Church

VVickey

HUGE!!! At the very least ...the value of the home would be taxable income for him...but private inurement would be the biggest factor and could put your church's tax exemption in jeopardy.

Please consult a knowledgeable professional before doing this!

I can highly recommend Elaine Sommerville with nonprofit-tax.com out of Dallas, TX.
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