Question: Problem 6 - 4 5 ( LO . 3 ) Alex, who is single, conducts an activity in the current year that is appropriately classified

Problem 6-45(LO.3)
Alex, who is single, conducts an activity in the current year that is appropriately classified as a hobby. The activity produces the following
revenues and expenses:
Without regard to this activity, Alex's AGI is $62,000.
Determine the amount of income Alex must report and the amount of the expenses he is permitted to deduct. Assume Alex itemizes his
deductions.
Reportable income: $
Deductible expenses: $
Problem 6-45(LO.3) Alex, who is single, conducts an activity in the

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