abhiol
Returning Member

Foster home expenses

Hello,

Referring to the following link: https://www.1040.com/tax-guide/taxes-for-families/foster-parents/

I do understand that foster care payments are nontaxable income.

However, based on the above link, I am interpreting that we will not be able to deduct our foster care expenses since the agency that placed the child with us cannot receive charitable donations.

Question: Is that the correct interpretation?