Henry, single and age 42, was divorced on July 1, 2019. He cannot claim any children as dependents. He had the below items of income and selected expenses for the 2022 tax year. What is his taxable income (1040 form Line 15)?

Wages: $72,000

Taxable interest: $1,000

Inheritance received: $50,000

Alimony paid: $10,000

Child support paid: $18,000

Federal taxes paid: $5,000

Answer rating: 100% (QA)

To calculate Henrys taxable income we need to start with his gros... View the full answer