In the Methodist church, pension income from the church is not subject to SECA and only that amount that exceeds the lesser of actual housing expenses or fair market rental value, is taxable.
Now the question.........Is Sch C income for the RETIRED minister subject to the Deason rule reduction of expenses or are 100% of C expenses allowable? The prior year preparer of my new client's
return used 100% of C expense. Help would be greatly appreciated.
Thanks
Now the question.........Is Sch C income for the RETIRED minister subject to the Deason rule reduction of expenses or are 100% of C expenses allowable? The prior year preparer of my new client's
return used 100% of C expense. Help would be greatly appreciated.
Thanks