Employer-provided housing/lodging includes: …

The FMV ($1000) minus the monthly rent ($300) equals the taxable and reportable fringe benefit amount ($700), (IRS Regulations, Section 119-1[b]). Fringe Benefit Valuation Rules – the employer must determine the value of a fringe benefit provided to an employee (IRS Regulation section 1.61-21[b]). ................
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