Question by  melissa15678 (20)

Is there a tax deduction for hosting a foreign exchange student?


Answer by  cgroverla (516)

If you are exchanging living arrangements for your child, no deduction is allowed. Otherwise, a deduction of $50 per month may be taken as a charitable deduction on Schedule A.


Answer by  Brandon55 (1719)

Currently there is a flat 50 dollar per month tax credite for hosting a foreign exchange student. While that might seem small, legislation has been in work since 2003 to raise the tax up to 200 dollars per month.


Answer by  Att4372 (1704)

For a non-related foreign student, you cannot claim a personal exemption. Expenses are normally considered personal and non-deductible. You cannot deduct education or medical expenses you pay for this non-dependent. Other expenses (food, lodging, transportation, etc. ) are considered personal expenses and generally non-deductible. You might be able to claim some charitable deductions for payments made to the sponsoring group.


Answer by  tamarawilhite (17883)

No, not unless you are paying the majority of their living expenses and are NOT being paid for it. For example, if a relative from overseas sends your child to live with you while going to school and you pay for their schooling, food, and necessities. If paid to host the student, there is no deduction.


Answer by  Vllad45 (1886)

There are no real deductions unless this person is totally dependent on you or lives with you over one year. It's more like doing unpaid charity work, no pay offs.

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