Loading
Get Housing Allowance Worksheet
How it works
-
Open form follow the instructions
-
Easily sign the form with your finger
-
Send filled & signed form or save
How to fill out the Housing Allowance Worksheet online
The Housing Allowance Worksheet is an essential tool for ministers seeking to calculate their housing allowance for tax purposes. This guide will provide clear, step-by-step instructions on how to fill out the worksheet effectively online.
Follow the steps to complete the Housing Allowance Worksheet online.
- Click the ‘Get Form’ button to access the Housing Allowance Worksheet and open it in your editor.
- Begin by entering the minister's name and the fiscal year for which the allowance is requested.
- Document the dates for the designation approved, clearly indicating the start and end dates.
- In the 'Allowable Housing Expenses' section, estimate each expense related to housing. Enter the amount for down payments and housing loan principal and interest payments under the estimated expenses column.
- Proceed to fill out the actual allowable expenses in the corresponding section, including real estate commission, taxes, insurance, and any costs for maintenance and furnishings.
- Calculate the subtotal of all expenses and then include a 10% allowance for unexpected expenses.
- Add the subtotal and the unexpected expenses allowance to get the total amount in each column.
- Document the properly designated housing allowance as approved from the church budget.
- Review all entries to ensure accuracy, and make any necessary amendments before saving or printing the document.
- Finally, save your changes, download, print, or share the completed form as necessary.
Begin filling out your Housing Allowance Worksheet online today!
Employers typically report housing allowances in box 14, Form W-2. Housing allowances are not included in taxable wages in box 1. If the amount the minister can exclude from income is less than the housing allowance, include the excess as income on line 7, Form 1040.
Industry-leading security and compliance
US Legal Forms protects your data by complying with industry-specific security standards.
-
In businnes since 199725+ years providing professional legal documents.
-
Accredited businessGuarantees that a business meets BBB accreditation standards in the US and Canada.
-
Secured by BraintreeValidated Level 1 PCI DSS compliant payment gateway that accepts most major credit and debit card brands from across the globe.