What is wilds taxable income

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Reference no: EM131287767

Wild Willy was divorced last year. He currently owns and provides a home for his 15-year-old daughter, Tame, 18-year-old, Wilder and 22 year old son Wild Jr.. The two younger children lived in Wild's home for the entire year and Wild paid for all the costs of the maintaining the home. Wild Jr. graduated from college in May, and is living with his father until he can find a job. He has earned $6000 since graduation, which he can spend on job hunting expenses. Mr. Wild received a salary of $105, 000 and contributed $6000 of it to a qualified retirement account. He also received $10, 000 of alimony from his former wife. Finally, Wild paid $5, 000 of expenditures that qualified as itemized deductions.

What is Wild's taxable income for 2015?

What would Wild's taxable income be if he incurred $14, 000 of itemized deductions instead of $5, 000?

Reference no: EM131287767

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