How do I deduct the tax credit for hosting an exchange student

scottjenniferdol · ‎January 24, 2024

I was told there is a tax credit or deduction for hosting, but I am not seeing how/where to do this.

Expenses Paid for Student Living With You

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 twelfth 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.