Can I take a deduction for housing an exchange student?
You may be able to deduct up to $50 a full month, (a month in which the student qualifies for at least 15 days counts as a full month) as a donation if you house a foreign or American exchange student under a written agreement with a qualified organization. You cannot take the deduction if you are reimbursed for housing the student. Also, the student:
- Can't be your relative or dependent;
- Must be a full-time student in the United States in grade 12 or lower;
- Can't be part of a reciprocal exchange with your child.
Expenses that may qualify for this deduction are books, tuition, food, clothing, transportation, medical and dental care and other amounts spent for the well-being of the student, up to the $50 a month limit.