26 U.S.C. § 107
§ 107. Rental value of parsonages
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
The law as written
Current through Public Law 119-102. Amendment notes omitted.
In the case of a minister of the gospel, gross income does not include—
(1)
the rental value of a home furnished to him as part of his compensation; or
(2)
the rental allowance paid to him as part of his compensation, to the extent used by him to rent or provide a home and to the extent such allowance does not exceed the fair rental value of the home, including furnishings and appurtenances such as a garage, plus the cost of utilities.