Foreign Exchange Students

[Dave T]

T/P's house three foreign students.

They receive 1099 Misc. from the three sponsoring agencies for almsot $ 8,000.

Not sure where to show this, Line 21 Other Income, Sch. E as rental, or even possbibly Sch C as they do this on a regular basis although not necessarily with a business intent.

T/P tracks mileage when taking them to appointments, etc.so I believe this would be an offset to the income but aagain not sure where to report.

Thanks

- Dave T

[MsTabbyKats]

What box is the income in on the 1099-Misc?

If box 3...I'd put it on Line 21...and take the expenses on Schedule A.

If box 7....I'd do a C...with all the expenses there

[Dave T]

Amounts appear in Box 7

[MsTabbyKats]

Then do a C....with all the expenses (food, mileage, soaps etc)