Yes, part of your expenses can be deducted as charitable contributions. The IRS allows you to deduct your monthly expenses spent on hosting a foreign exchange student up to $50 a month, you treat it as if you donated cash to the charity.
To enter the information, in TurboTax online edition, here are the steps:
- Select Federal from the left side menu.
- Select Deductions and Credits.
- Expand the list and scroll down to Charitable Donations.
- Expand the section and click Start to the right of Donations to Charity in 2022.
- Answer the next question Yes.
- Start by entering information about the charity, then the amount of your allowed deduction.
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