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A definite amount must be designated at the beginning of each year, and it cannot be retroactive (see IRS Publication 517).
Concerning the housing allowance, a minister may exclude the least of the following (IRS Publication 517): 1) the amount actually used to provide a home (see items in Exhibit 2); 2) the amount designated as a housing allowance; or 3) the annual fair rental value of the furnished home.
Tax planning rules for ministers
* IRS Publication 517, Social Security and Other Information for Members of the Clergy and Religious Workers.
Tax reporting for houses of worship: what is a "church," and how is it taxed?
CPAs can find detailed examples and worksheets in IRS Publication 517, Social Security and Other Information for Members of the Clergy and Other Religious Workers.
Tax planning for servants of God: unique tax rules apply to members of the clergy
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