Expert Reviewed Q. Where can I report my deduction? A. The deduction is an itemized deduction reported as a charitable contribution. Federal Section DeductionsItemized DeductionsGifts to CharityNon-Cash Donations (more than $500) if claiming more than $500Non-Cash Gifts to Charity (if claiming less than $500)Reference: https://support.taxslayer.com/hc/en-us/articles/360057546912-What-expenses-can-I-claim-for-my-Foreign-Exchange-Student If you are paid by the “qualified organization” to host the student, then the income and deductions are reported differently.

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lisajohnston83

Level 1

Solved

How do I deduct the tax credit for hosting an exchange student

Forum|Forum|1 year ago
January 4, 2025
1 reply
3 views

No text available

Best answer by Hal_Al

Expert Reviewed

Q. Where can I report my deduction?

A. The deduction is an itemized deduction reported as a charitable contribution.

Federal Section
Deductions
Itemized Deductions
Gifts to Charity
- Non-Cash Donations (more than $500) if claiming more than $500
- Non-Cash Gifts to Charity (if claiming less than $500)

Reference: https://support.taxslayer.com/hc/en-us/articles/360057546912-What-expenses-can-I-claim-for-my-Foreign-Exchange-Student

If you are paid by the “qualified organization” to host the student, then the income and deductions are reported differently.

Bsch4477

Level 15

How do I get the tax credit for hosting a foreign exchange student?

I was told there is a tax credit or deduction for hosting, but I am not seeing how/where to do this.

posted

Expenses Paid for Student Living With You

You may be able to deduct some expenses of having a student live with you. You can deduct qualifying expenses for a foreign or American student who:

Lives in your home under a written agreement between you and a qualified organization (defined later) as part of a program of the organization to provide educational opportunities for the student,
Isn't your relative (defined later) or dependent (also defined later), and
Is a full-time student in the twelfth or any lower grade at a school in the United States.

You can deduct up to $50 a month for each full calendar month the student lives with you. Any month when conditions (1) through (3) are met for 15 or more days counts as a full month.

Hal_Al