Get the free Clergy Housing Exclusion Resolution - uny umconline

FORM #1.a. Clergy Housing Exclusion Resolution WHEREAS Section 107 of the Internal Revenue Code of 1986 has provided that a minister of the Gospel may exclude from gross income the fair rental value

How to fill out clergy housing exclusion resolution

How to fill out clergy housing exclusion resolution:

1. Obtain a copy of the clergy housing exclusion resolution form from the appropriate authority or organization.
2. Review the instructions provided with the form to understand the requirements and eligibility criteria for claiming the housing exclusion.
3. Fill in your personal information accurately, including your name, contact details, and taxpayer identification number.
4. Provide information about your clergy position, such as your title, the religious organization you serve, and your role within the organization.
5. Specify the exact address of the parsonage or clergy housing provided to you. Include any additional details, such as the type of accommodation and amenities.
6. Indicate the date when you started using the clergy housing and the anticipated date of discontinuation, if applicable.
7. Calculate and report the fair rental value of your clergy housing. This can typically be determined by obtaining local rental market information or through professional appraisals.
8. Determine the amount of qualified housing expenses you paid out of pocket, if any, and include this information in the appropriate section of the form.
9. Attach any supporting documents required, such as receipts, rental agreements, or other verification of housing expenses.
10. Sign the completed form and submit it to the relevant tax authority or organization as instructed.

Who needs clergy housing exclusion resolution?

1. Clergy members who receive housing as part of their compensation or employment benefits.
2. Individuals who are employed or engaged in religious services by qualified religious organizations.
3. Those who want to claim the clergy housing exclusion to reduce their taxable income and potentially lower their tax liability.

Note: It is always recommended to consult with a tax professional or seek guidance from the appropriate tax authority to ensure accurate completion of the clergy housing exclusion resolution form.

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What is clergy housing exclusion resolution?

The clergy housing exclusion resolution is a tax provision that allows designated clergy members to exclude a portion of their income used for housing expenses from their taxable income.

Who is required to file clergy housing exclusion resolution?

Clergy members who receive housing allowances or provide housing by living in a parsonage are required to file the clergy housing exclusion resolution.

How to fill out clergy housing exclusion resolution?

Clergy members can fill out the clergy housing exclusion resolution by reporting their housing expenses used for the purpose of housing allowance or parsonage.

What is the purpose of clergy housing exclusion resolution?

The purpose of the clergy housing exclusion resolution is to provide tax benefits to clergy members to help compensate for their housing expenses.

What information must be reported on clergy housing exclusion resolution?

Clergy members must report their housing expenses, including mortgage or rent payments, utilities, repairs, and other relevant expenses.