TM_Charity
Jul 22, 2009, 11:24 PM
I host international students who attend a Private High School in the United States.
The host family pays the school for their boarding and the school issues a check to the families.
We are required to room and board the student along with providing transportation and school meals.
In the past no w2 was required and no 1099 issued but I just received notice that I would need to fill out a w2 and all stipends will be reported and a 1099 issued.
Does this get reported as regular income? Is there a way of keeping track of expenses to offset the income?
The amount we receive does not necessarily cover the cost of transportation, food and increased utilities.
The host family pays the school for their boarding and the school issues a check to the families.
We are required to room and board the student along with providing transportation and school meals.
In the past no w2 was required and no 1099 issued but I just received notice that I would need to fill out a w2 and all stipends will be reported and a 1099 issued.
Does this get reported as regular income? Is there a way of keeping track of expenses to offset the income?
The amount we receive does not necessarily cover the cost of transportation, food and increased utilities.