Question: please help me answer each question and explain why if possible 1. Which of the following statements is not correct for reporting a hobby on

1. Which of the following statements is not correct for reporting a hobby on an income tax return? a. Hobby income is reported on Schedule 1, line 21. b. Hobby income and expenses are reported on Schedule C, but Schedule SE is not required to be filed. c. Deductions are not allowed for expenses against hobby income. d. Hobby income is not included in SE income. 2. All of the following are requirements to claim head-of-household filing status except: a. The taxpayer's parent must live in the home at least 6 months. b. The taxpayer is unmarried or considered unmarried on the last day of the year. c. The taxpayer paid more than half of the cost of keeping up the house for the entire year. d. The taxpayer's spouse did not live in the home during the last 6 months of the tax year. 3. Three taxpayers have claimed the EIC for the same child and all three were eligible to claim the child. One is the child's mother, another is the child's uncle who provided the child's home for the longest period of time during the year, and the third is a step-brother who as a member of the household has the highest AGI. Which taxpayer is entitled to the earned income credit? a. The person with the highest AGI. b. The person the child lived with longest during the year c. The parent d. None of the three. 4. The student loan interest deduction is the smaller of the interest paid or: a. $4,000 b. $2,500 c. $5,000 d. $2,000 5. Joe and Teresa are married and they both work outside the home. They have three children ages 18, 6 and 2. Also, Joe's 20 year old niece is a full-time student who lived with them all year and is claimed as their dependent. Which of the following expenses that Joe and Teresa paid qualify for purposes of claiming the child and dependent care credit? a. Payments to a private school for their 6 year old to attend first grade. b. Payments to Joe's niece to care for the children. c. Payments to their 18 year old daughter to care for her 2 year old sister. d. Payments made to Joe's mother who lives with them but does not qualify as their dependent. e. None of these expenses qualify. Paraph 1. Which of the following statements is not correct for reporting a hobby on an income tax return? a. Hobby income is reported on Schedule 1, line 21. b. Hobby income and expenses are reported on Schedule C, but Schedule SE is not required to be filed. c. Deductions are not allowed for expenses against hobby income. d. Hobby income is not included in SE income. 2. All of the following are requirements to claim head-of-household filing status except: a. The taxpayer's parent must live in the home at least 6 months. b. The taxpayer is unmarried or considered unmarried on the last day of the year. C. The taxpayer paid more than half of the cost of keeping up the house for the entire year. d. The taxpayer's spouse did not live in the home during the last 6 months of the tax year. 3. Three taxpayers have claimed the EIC for the same child and all three were eligible to daim the child. One is the child's mother, another is the child's uncle who provided the child's home for the longest period of time during the year, and the third is a step-brother who as a member of the household has the highest AGI. Which taxpayer is entitled to the earned income credit? a. The person with the highest AGI. b. The person the child lived with longest during the year c. The parent d. None of the three. 4. The student loan interest deduction is the smaller of the interest paid or a. $4,000 b. $2,500 c. $5,000 d. $2,000 S. Joe and Teresa are married and they both work outside the home. They have three children ages 186 and 2. Also, Joe's 20 year old niece is a full-time student who lived with them all year and is claimed as their dependent. Which of the following expenses that Joe and Teresa paid qualify for purposes of claiming the child and dependent care credit? a. Payments to a private school for their 6 year old to attend first grade. b. Payments to Joe's niece to care for the children. c. Payments to their 18 year old daughter to care for her 2 year old sister. d. Payments made to Joe's mother who lives with them but does not qualify as their dependent. e. None of these expenses qualify
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