I was lucky to be chosen to host a student from China.
The organization responsible for their stay will be giving me a stipend of $1200 a month on a 1099 form for room and board.
I know I must report the income from the 1099, but are any expenses from that income deductible?
I've searched through the IRS site with no results - any direction (to documents and forms) appreciated.
Thanks! You are all so helpful (and sometimes amusing!)

