L.S. Posted February 6, 2008 Report Posted February 6, 2008 Pastor with Housing Allowance. Bought carpet on credit card in Dec. 07. Carpet installed in Jan. 08. Cost of carpet should be shown in 07 or 08? Thank you. Quote
RoyDaleOne Posted February 6, 2008 Report Posted February 6, 2008 Amounts on a credit card are actually a loan and should be handled in the year of the charge. It is the same as borrowing the money and paying cash. Quote
JohnH Posted February 6, 2008 Report Posted February 6, 2008 I also vote for December. The H&U money is spent in the year the charge is made on the credit card, regardless of when the installation takes place. Quote
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