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Level 1
posted Feb 5, 2025 9:56:50 AM

Exchange student

When I submit the $50 per month for my exchange Student (Aug - Dec 2024 and then again I'll have Jan - May for my 2025 year) do I just submit the total of the months (i.e., $250 for Aug-Dec 2024) as a lump sum deduction and list the company name that she came through (FLAG International)?  

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1 Replies
Expert Alumni
Feb 5, 2025 10:08:57 AM

Only include charitable contributions made in 2024 on this tax return; do not include 2025 expenses.   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 12th 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.   See Pub 526

 

How do I enter my charitable contributions in TurboTax?