We have a foreign exchange student that came in late August and will be with us until July. Wondering if we can claim a child and or dependent tax credit on our income taxes this year ?

I sure hope not. Why should my tax dollars go to a foreign exchange student.

The OP is asking if they can claim the exchange student as a dependent, which he really is in real life as they are supporing him by providing (presumably) free room and board.However, the answer is NO, because the exchange student is considered to be a non-resident alien. To be claimed as a dependent, he/she MUST be a U.S. resident or U.S. citizen.

OK, thanks for the info Atlanta tax expert

WAIT - You can deduct some expenses (IF your child isn't an exchange student too).
Publication 526 (2013), Charitable Contributions (http://www.irs.gov/publications/p526/ar02.html#en_US_2013_publink1000229664)

Joy makes some good points, but to deduct those costs, you MUST itemize on Schedule A.

We usually do itimize

Then you shuld have no problem claiming at least SOME of the expenses as itemized charity deductions.

Thanks. Scratch my head at tax time. LOL Atlanta, didn't you answer my IRA questions to ?

Probably. I answer most of the tax questions on this forum, though ebaines sometimes beats me to it.

**SIGH** I don't claim to know 1/10 of our tax expert, but what the heck, I just saved you some money, you're welcome. This isn't a contest.

I guess I'll chime in - that's a good find Joypulv. I've never hosted an exchange student so it's good to know. To the OP - note that the you must have a written agreement to host the student with a qualified charitable organization, such as a church or school.

We got the student through YFU, I assume there is an agreement, my wife handles all that, often times I'm just along for the ride - LOL. Thanks all

YFU = Youth for Understanding, correct? If so, it is indeed a 501(c)(3) charity, so as long as you have a written contract with them you can take those deductions.

I'll ask her if we have a contract, thanks. Yes, Youth for Understanding