Georgie has gross income of $5,000 from an activity that has been deemed to be a...

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Georgie has gross income of $5,000 from an activity that has been deemed to be a hobby by the IRS. Her expenses related to the activity include property taxes of $3,000, operating expenses of $1,500, and depreciation expense of $800. What would be Georgie's deductible expenses for the year and where would they be taken? O $3,000 Schedule A (Itemized Deductions) $3,000 Schedule C (Profit or Loss from Business) $5,000 Schedule A (Itemized Deductions) $5,000 Schedule C (Profit or Loss from Business) $5,300 Schedule C (Profit or Loss from Business) Georgie has gross income of $5,000 from an activity that has been deemed to be a hobby by the IRS. Her expenses related to the activity include property taxes of $3,000, operating expenses of $1,500, and depreciation expense of $800. What would be Georgie's deductible expenses for the year and where would they be taken? O $3,000 Schedule A (Itemized Deductions) $3,000 Schedule C (Profit or Loss from Business) $5,000 Schedule A (Itemized Deductions) $5,000 Schedule C (Profit or Loss from Business) $5,300 Schedule C (Profit or Loss from Business)