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agasfer [191]
3 years ago
5

Rev. Elvin Snider is the ordained minister at Crossroads United Methodist Church. His salary on his Form W-2 is $20,000. He also

receives a $12,000 housing allowance. His housing costs for the year are $14,000. What is Rev. Snider's self-employment income?
Business
1 answer:
8_murik_8 [283]3 years ago
6 0

Answer: $32000

Explanation:

It should be noted that ministers or clergymen can exclude the home rental value or housing cost from the calculation of the gross income

Rev. Snider's self-employment income

Therefore, in this case, Rev. Snider's self-employment income will be:

Salary = $20,000

Add: Housing allowance = $12000

Total = $32000

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