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Need help filling this information out on the corect tax forms (2018) Lisa Kohl (age 44) is an unmarried high school principal. Lisa received the

Need help filling this information out on the corect tax forms (2018)

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 $9,250

KS state income tax payment for 2017 $425

MasterCard interest $550

Life insurance (whole life policy) $750

Property taxes on personal residence $1,425

Blue Cross medical insurance premium $250

Other medical expenses $780

Income tax preparation fee $300

Charitable contributions (in cash) $730

On January 28, 2018, Lisa sold undeveloped 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, 2019, the first of the ten principal and interest payments is due.

Required: Complete Lisa's Form 1040, Schedules 1, A, B and D, Form 8949, Form 6252 and Qualified Dividends and Capital Gain Tax Worksheet.

Make realistic assumptions about any missing data.

She had health care coverage for the entire year and does not want to make a contribution to the presidential election campaign.

Enter all amounts as positive numbers, except for a "loss". If required, enter a "loss" as a negative number on the tax form.

If an amount box does not require an entry or the answer is zero, enter "0".

If required round any dollar amount to the nearest dollar.

W-2 FORM:

Wages, tips, other compensation $56,000

Federal income tax withheld $5,800

Social security wages $56,000

Social security tax withheld $3,472

Medicare wages and tips $56,000

Medicare tax withheld $812

State wages, tips, etc. $56,000

State income tax $750

FORM 1099-INT:

Olathe National Bank

Insterest Income $200

FORM 1099-DIV:

Johnson Corporation

Total ordinary dividends $4100

Qualified dividends $4100

FORM 1099-B:

Big Brokerage Company

100 shares Johnson Corp.

Date acquired 8/31/2017

Proceeds $17100

Date sold or disposed 2/5/2018

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