MORTGAGE PAYMENT DIRECTLY TO MORTGAGE COMPANY

by J W
(Lumberton, NC)

Can a church write a check made payable DIRECTLY to the minister's Mortgage Company?

Comments for MORTGAGE PAYMENT DIRECTLY TO MORTGAGE COMPANY

Click here to add your own comments

RE: Direct Mortgage Payment
by: Anonymous

Diane - Pub 17 says, "Expenses paid by another. If your personal expenses are paid for by another person, such as a corporation, the payment may be taxable to you depending upon your relationship with that person and the nature of the payment. But if the payment makes up for a loss caused by that person, and only restores you to the position you were in before the loss, the payment is not includible in your income.
I'm an IRS-trained and certified tax preparer; the mortgage payment is taxable as income.
Direct Mortgage Payment
by: Diane

Where is the ruling that a mortgage payment that is paid directly by the church has to be reported as income instead of housing allowance? I'm not questioning your knowlege, but I need to know where this is written in IRS policy or laws. Thank you.
Income for Pastor
by: Vickey

Yes a church can, but then it should be included on his W-2 as income.

A designated housing allowance (properly set up)and paid directly to the Pastor would be more tax beneficial for him.






Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Housing Allowance.