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

The citizens of the nation having income higher than the minimum income tax chargeable income have been eligible to file the income tax return.

The income that has been made by a person pursuing his hobby has been termed as the hobby income. The hobby income has been reported in the tax return as well.

The hobby income has been reported on Schedule A, line 8 of Form 1040. It has also been reported in Schedule C. Thus, option B is correct.

For more information about the income tax return, refer to the link:

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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.

Explanation:

answer; the population in brazil is very diverse there are many races and ethnic groups

for many centuries there were important factors which the economies of the muslim empires developed increasingly. they applied economic procedures in production, investment, finance, taxation and property. they used to tax certain goods (for example: harvest), they charged interest on money lent, they signed contracts with merchants; they relied on a common currency, and they used checks as well as promissory notes. with the money collected by means of taxation, the government provided the needy with an income. in addition, trading networks covered huge distances, so far regions started to have contact and exchange goods. this trade network covered areas of asia, africa and europe.