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- Foreign Exchange Student - What can I Deduct?
Foreign Exchange Student - What can I Deduct?
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Ephesians3-14
Level 8
02-10-2022
11:15 AM
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I have a client who had a foreign exchange student stay with them in 2021. A 1099-NEC was issued to my client's SSN for $5,000.
The client provided $4,000 of food expenses for the student that was paid for by my client. Can they deduct the $4,000? I thought the IRS allowed taxpayers a $50/mo deduction for food?
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