What additional tax return preparation is needed if clergy receive a housing all

Question

What additional tax return preparation is needed if clergy receive a housing allowance as part of their compensation and have unimbursed employee ministerial expenses? The clergy member income statement must be completed to allocate expenses between Schedule C and form 2106; the expenses must be allocated to self employment income and deducted on Schedule C; Expenses allocable to excluded income must be figured to determine the no deductible amount; the expenses must be allocated between gross income and self employment income to determine the deductible amount. What additional tax return preparation is needed if clergy receive a housing allowance as part of their compensation and have unimbursed employee ministerial expenses? The clergy member income statement must be completed to allocate expenses between Schedule C and form 2106; the expenses must be allocated to self employment income and deducted on Schedule C; Expenses allocable to excluded income must be figured to determine the no deductible amount; the expenses must be allocated between gross income and self employment income to determine the deductible amount. The clergy member income statement must be completed to allocate expenses between Schedule C and form 2106; the expenses must be allocated to self employment income and deducted on Schedule C; Expenses allocable to excluded income must be figured to determine the no deductible amount; the expenses must be allocated between gross income and self employment income to determine the deductible amount.

Explanation / Answer

Answer :- Option 3). Expenses allocable to excluded income must be figured to determine the non-deductible amount.

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