Question: Lisa Kohl (age 44) is an unmarried
Lisa Kohl (age 44) is an unmarried high school principal. Lisa received the following tax documents: 
During the year, Lisa paid the following amounts (all of which can be substantiated): 
Lisa’s sole stock transaction was reported to her on a Form 1099ÂB: 
On January 28, 2018, Lisa sold raw land for $180,000 (basis to Lisa of $135,000). The land was purchased 6 years ago. She received $25,000 as a down payment and the buyer’s 10Âyear note for $155,000. The note is payable at the rate of $15,500 per year plus 8 percent interest. On January 28, 2019, the first of the ten principal and interest payments is due. Required: Complete Lisa’s federal tax return for 2018. Use Form 1040, Schedule 1, Schedule A, Schedule B, Schedule D, Form 8949, the Qualified Dividends and Capital Gain Tax Worksheet, and Form 6252 to complete this tax return. Make realistic assumptions about any missing data.
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This information iis being fumished io the Intemal Rovanue Service. Form CORRECTED (f checked) PAYERS eme, siret ada, dly or kown, stale or provinoe, country, 2P Payer's RINopticna) or foreign postal code, and telephone no. OMB No. 1545-0112 Interest Income Olathe National Bank 2018 1 Hlarest income 1240 E. Santa Fe Street Olathe, KS 66061 200.00 Fom 1099-INT 2 Earty wthdiswal panaly Сopy B PAYERS TIN RECIPENT'S TIN For Recipient 44-1352469 467-98-9784 3 Mlaest on US. Saving Donds and Treas, obigators REGRENI S rame Lisa Kohl This is important tx inkormation and is being furmished to the IRS. If you are required to fle a retum, a nogligence penalty or other sanction may ba imposed on you if this income is twable and the IRS dotormines that it has not bean roported. 4 Federal income lax withhed 5Invesdment copemses 8 Fornign lax paid 7 Farign courtryarUS. posesdion Street address (nchudirg apt. no) 212 Quivira Rd. 8 Ta-mpt monst 9 Spociad priale acty band est City or town, state or province, country, and ZIPor foroign postal code Overland Park, KS 66210 10 Market discount 11 Bond pemum FAICA ing $ oqinment 12 kedpeiman anyigko 13 lii pimonlaanpt tend Account number (ae irsinuctikors) 14 Taa-canmpt and tax aedt band CuSIPno. 15 Sta 16 Sta illoionno 17 Stalo tax withhold Form 1009-INT (Koep for your records) www.isgowFormi0nINT Depertment of the Tressury - Itemal Roverue Service O CORRECTED (if checked) PAYERS name, stroet address, city or town, state or province, country, ZP 1a Total ordinary dvidends or oeign postal ode, and teiephone no. OMB No. 1545-0110 $ 4,100.00 Johnson Corporation 2018 Dividends and Distributions 1b Quilled divikdands 100 E. 49th Street $ 4,100.00 2a Total caphal gain distr. New York, NY 10017 Form 1099-DIV 2 Unrecap. Sec. 125o gan Соpy B For Recipient PAYER'S TIN RECIPIENT'S TIN 20 Soction 1200 gain 24 Colecttin (a) gin 17-2468135 467-98-9784 3 Nondvidend deibutiom4 Fedral ncome lax wihhe $ 0.00 6 Ireniment capeses RECIPIENTS name Thisis important tx Inomaion and is being furnshd to he ls If you are required to le a tum, a negligence penalty or other anction may bo mposed on you if s income is tcable and the IRS delemines that it has Lisa Kohl 5 Secion 19M dMdonds Siroet addrus ncuding apt no.) $ 7 Fonign tax pikd * Fenign cnty or US. possikr 212 Quivira Road Ciiy or lown, siale or province, country, and ZPor Torign postal code 24 9 Cash quidation disributions 10 Nonch qudalon detulon Overland Park, KS 66210 not been mportd. FATCA ing 11 Exemplinterest didends 12 Specied private activity mquirament bond interest dividands %24 %24 Account number pee iretrucions 13 State 14 n na 15 Stale tx withhok Form 1099-DIV (keep for your records) www.insgowFomtoON Department of the Teasury-Intemal Revenue Service Home mortgage interest KS state income tax payment for 2017 $9,250 $425 MasterCard interest 550 Life insurance (whole life policy) Property taxes on personal residence Blue Cross medical insurance premiums Other medical expenses Income tax preparation fee Charitable contributions (in cash) 750 1,425 250 780 300 730 CORRECTED (if checked) PAYER'S name stroct addrees, city or town, stale or provnoe, country, ZIP Applicabie chock box on Form a949 or foreign postal oode, and telephohe no. OMB No. 154S-0715 Proceeds From Broker and 2018 Barter Exchange Transactions Big Brokerage Company Form 1099-B 123 Wall Street 1a Description of proparty (Example: 100 sh. XYZ Co.) 100 shs. Johnson Corp 1b Date acquired 08/31/2017 New York, NY 10014 1e Dale sold or disposed 02/05/2018 1e Cost ar other basis 24 Сopy B For Recipient PAYER'S TIN RECIPIENTS TIN 1d Procoeds $ 17,100.00 43,100.00 1g Wash sae kor dhaltrwod 24 11-0010011 467-98-9784 1f Acoruod market discount RECIPIENT'S name 2 Short tom gain or konsOa tcheckod, basts reported Long-tem gan or losO Ordinay 4 Federal income tax wihhe5 Ifchecked, noncovered IS 6 Reportad io Grans procsedh to RS Lisa Kohl This is important tax information and is being furnished to the lS. If you are requirod to file a retum, a negligence penalty or other sanction may be imposed on you il this income is taxable and the IRS delermines that it has not been Steet address ncluding apt no) securty 212 Quivira Rd. 7 checad, kes isnot alowed based on amount in 1d Chy or town, stat or province, country, and ZIP or foreign postal code Net procnds Overland Park, KS 66210 8 Prott or foss allnod in 2010 on elosid contracts 9 Unroalzod proft or foss on opan contricts-12ud017 Account number (se instructions) IS 10 Urealzed proft or foes on 11 Aggegate protor (loss) opan cortricts-123udona 24 CUSP number FATCA ing roquiremont on contracts герorted. 15 State identiicalion no 16 State tax wihheld IS 2$ 13 Bartering 24 14 State name 12 Check if prooseds from colocitis Fom 1099-B (Keep for your records) www.s.gow/Fomi0 Departmant of the Treury - Intemal Revanue Service
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