Find out whether there are any housing related tax breaks available to a minister that doesn’t receive a housing allowance.
Hi, Belinda Whitfield and today is open Q&A day and I’m taking a question from my inbox and the questions is:
Currently, I do not receive any compensation from the ministry [apparently, this is a pastor] are there any housing allowance related items or expenses that we incur that can be written off on our taxes?
Well, if you are not receiving a housing allowance, that’s not a good thing for you. But in any event, you can still take the normal tax deductions that homeowners can take. You can claim a tax deduction for your mortgage interest that you are paying and as well as your property taxes on your home. You can claim those deductions on Schedule A of your tax return.