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Lisa Kohl (age 44) is an unmarried high school principal. Lisa received the following tax documents (which are located on separate tabs in the problem):

Lisa Kohl (age 44) is an unmarried high school principal. Lisa received the following tax documents (which are located on separate tabs in the problem):

  • W-2 Form
  • Form 1099-INT
  • Form 1099-DIV
  • Form 1099-B

During the year, Lisa paid the following amounts (all of which can be substantiated):

Home mortgage interest $9250

KS state income tax payment for 2016$425

MasterCard interest $550

Life insurance (whole life policy) $750

Property taxes on personal residence $1,425

Blue Cross medical insurance premiums $250

Other medical expenses $780

Income tax preparation fee $300

Charitable contributions (in cash) $730

On January 28, 2017, 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 10-year note for $155,000. The note is payable at the rate of $15,500 per year plus 8 percent interest. On January 28, 2018, the first of the ten principal and interest payments is due.

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