I am hosting a foreign exchange student, can anyone tell me if there is some sort of income tax credit?

I am working on my taxes %26amp; am hosting a Foreign Exchange Student from Denmark. I would like to know if there are any tax breaks or credits I can use.

I am hosting a foreign exchange student, can anyone tell me if there is some sort of income tax credit?
If you itemize, you might be able to deduct up to $50 a month for expenses for each full calendar month the student lives with you. It could be considered a charitable contribution if the student was placed with you by a qualified organization.





Note: Jay appears confused on the requirements for head of household status.
Reply:No. The exchange student is not a related dependent. If you are paying a significant portion of the student's expenses, you might be able to claim Head of Household status.
Reply:I can't remember the exact amount but there is a amount you can claim as a charitable deduction. I believe that it is $50 for each month in the past year that that exchange student lived with you.