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In 2020, expenses generated from activities producing hobby income are.....1. Completely allowed as other itemized deductions . 2. Allowed as miscellaneous itemized deductions subject to

In 2020, expenses generated from activities producing hobby income are.....1. Completely allowed as other itemized deductions . 2. Allowed as miscellaneous itemized deductions subject to the 2%-of-AGI limitations. 3. Completely disallowed as miscellaneous itemized deductions subject to the 2%-of-AGI limitation. 4. Allowed as miscellaneous itemized deductions subject to the 2%-of-AGI limitation only when not in excess of hobby income.

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