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Alex, who is single, conducts an activity in 2018 that is appropriately classified as a...

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Accounting

Alex, who is single, conducts an activity in 2018 that is appropriately classified as a hobby. The activity produces the following revenues and expenses:

Revenue $18,000

Property taxes 3,000

Materials and supplies 4,500

Utilities 2,000

Advertising 5,000

Insurance 750

Depreciation 4,000

Without regard to this activity, Alex's AGI is $42,000. Determine the amount of Alex's taxable income assuming he has not other itemized deductions. The standard deduction for single taxpayers is $12,000. Taxable income: $_________

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