topic Host Family Credit - for International Students in Get your taxes done using TurboTax

Host Family Credit - for International Students

lizsabicer — Tue, 04 Jun 2019 20:05:16 GMT

I host an international student (and am paid through a church for hosting). I read somewhere that I can get $50/mo tax credit - or can fill out a schedule something... anyone else do this?

To report your $50/month deduction for hosting an exchang...

Marketstar — Tue, 04 Jun 2019 20:05:17 GMT

To report your $50/month deduction for hosting an exchange student in TurboTax:

Click My Account (Top right of your screen).

Select Tools.

In the pop up window, select Topic Search.

In the search bar, type in charitable contributions

Highlight it and select GO, and follow the prompts

You will enter this expense as a cash contribution.

Much better than that is to write off all home-based busi...

sactottuser — Tue, 04 Jun 2019 20:05:19 GMT

Much better than that is to write off all home-based business expenses (proportional share of utilities, property taxes, Internet and phone costs, etc., plus food and mileage for the students). Otherwise, like another answer to a similar question said, you'll lose about 1/3 of your income to self-employment "taxes" and income tax.