Indicate the Proper Treatment in the Current Year for the Underlined

question 105

Multiple Choice

Indicate the proper treatment in the current year for the underlined amounts.Treat each item as an independent event.Indicate whether the amount is deductible or not;if deductible whether it is deductible FOR or FROM AGI;and indicate the amount of the deduction for the current year considering any relevant limitations.Assume the taxpayer has deductions greater than the standard deduction,has AGI of $69,000 without regard to the following transactions and has no "total" income limitations related to itemized deductions.
-Hobby expenses of $2,500.Hobby income is $2,000.Amount $2,000,subject to 2% of AGI

• A)Not Deductible
• B)Deductible - For AGI
• C)Deductible - From AGI

---

Definitions:

Interpersonal Relationships

The connections and interactions between two or more people, which can impact various aspects of the workplace, including communication, teamwork, and morale.

Attitudes

A predisposition or tendency to respond positively or negatively towards a certain idea, object, person, or situation.

Interpersonal Distance

The physical or psychological space maintained between individuals during interactions, which can influence communication and social dynamics.

Intimacy

A close, familiar, and usually affectionate or loving personal relationship with another person or group.