Question 5 of 75. Reverend James receives a rental allowance from his employing church. The allowance is excluded from i

[answerhappygod]

Question 5 Of 75 Reverend James Receives A Rental Allowance From His Employing Church The Allowance Is Excluded From I 1 (86.65 KiB) Viewed 92 times

Question 5 of 75. Reverend James receives a rental allowance from his employing church. The allowance is excluded from income. Reverend James also has both self-employment income and unreimbursed expenses related to his ministry. Which of the following statements is most accurate? Reverend James must allocate part of the expenses to the excluded allowance. The excluded allowance covers the expenses. Nothing is deductible. The expenses can be claimed as an adjustment to income, O Reverend James does not need to claim any of his income.