Has anyone heard of a tax credit or deduction for being a host to an foreign exchange student?
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The only thing I have heard is that the cost of hosting the student or maybe just the money actually spend could be a charitable donation if the hosting programm is through a non-profit organization.
Just comes to mind that it will benefit a certain student, which could make the deduction ineligble but then the hosting parents didn't make this choice. -
There is a charitable deduction for hosting a foreign exchange student. It's not much. See IRS Pub. 17, ch. 24 - contributions under Expenses Paid for Student Living With You. It was $50/mo last year.Comment
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I want to.........
....... thank you all of your quick responses. The client was in my office when I posted and was impressed by those who responded. I knew there was something but I couldn't put my finger on it. My search didn't bring up anything....????? Go figure......This post is for discussion purposes only and should be verified with other sources before actual use.
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