Internal Revenue Code Section 107

The discrimination in existing law by providing that the present exclusion is to apply to rental allowances paid to ministers to the extent used by them to rent or provide a home.

Internal revenue code section 107. Religious organization was eligible for the housing allowance provided under section 107 of the code. Rental value of parsonages in the case of a minister of the gospel gross income does not include 1 the rental value of a home furnished to him as part of his compensation. Section 2 b of pub.

2 returns positions the amendment made by this section also shall apply to any taxable year beginning before january 1 2002 for which the taxpayer a on a return filed before april 17 2002 limited the exclusion under section 107 of the internal revenue code of 1986 as provided in such amendment or b filed a return after april 16 2002. On a return filed before april 17 2002 limited the exclusion under section 107 of the internal revenue code of 1986 as provided in such amendment or b filed a return after april 16 2002. Internal revenue code 107 click the following link to go online to the entire law.

The revenue ruling holds that the minister cannot exclude the rental allowance from his gross income under section 107. The allowable allowance is computed subject to limitations imposed by law as to the amount and the required designation by the employing. Those provisions provide that a minister of the gospel may exclude a housing allowance from his or her gross income.

The allowable allowance is subject to self employment tax under seca and irc 1402 a 8. Rental value of parsonages on westlaw. 2 returns positions the amendment made by this section also shall apply to any taxable year beginning before january 1 2002 for which the taxpayer.

For more detailed codes research information including annotations and citations please visit westlaw. The old age home designated an amount equal to the rent he actually paid as a rental allowance under section 107. The discrimination in existing law by providing that the present exclusion is to apply to rental allowances paid to ministers to the extent used by them to rent or provide a home.

This worksheet is designed to help a retired clergyperson determine the amount that he or she may exclude from gross income pursuant to the provisions of section 107 of the internal revenue code code. 1 in general the amendment made by this section shall apply to taxable years beginning after december 31 2001. Internal revenue code 107.