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Ksenya-84 [330]
3 years ago
9

Which of the following statement is not correct for reporting a hobby on an income tax return

Social Studies
1 answer:
Darya [45]3 years ago
4 0

<u>Answer: </u>

The statement that is not correct about reporting a hobby on an income tax return is that hobby income and expenses are reported on Schedule C.

<u>Explanation: </u>

  • Schedule A of the income tax return deals with the information to be dispensed about hobby income and expenses.
  • To be specific, Schedule 1, line 21 under Schedule A contains the fields to be filled for information about hobby income and expenses.
  • This income is not included in the 'self-employment' income because it does not allocate a proprietorship.
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The correct answer is:

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stiv31 [10]

Answer: This is false statement.

Explanation:

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All the goods that Lesotho uses has them imported from South Africa and almost 85% of their goods are from South Africa. Citizens of Lesotho are also dependent on the mines in South Africa in order to provide for their families so it is still struggling economically to make ends meet on its own as a country .

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