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.Lisa Kohl (birthdate 02/14/1953) 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 Kohl (birthdate 02/14/1953) 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 Kohl (birthdate 02/14/1953) 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):Home mortgage interest reported on Form 1098 (not shown)$9,540KS state income tax payment for 2018$475MasterCard interest550Life insurance (whole life policy)750Property taxes on personal residence1,525Blue Cross medical insurance premiums250Other medical expenses780Income tax preparation fee300Charitable contributions (in cash)750Lisa’s sole stock transaction was reported to her on a Form 1099-B:On January 28, 2019, Lisa sold land for $175,000 (basis to Lisa of $130,000). The land was purchased 6 years ago as an investment. She received $25,000 as a down payment and the buyer’s 10-year note for $150,000. The note is payable at the rate of $15,000 per year plus 8 percent interest. On January 28, 2020, the first of the ten principal and interest payments is due.Lisa also helps support her father, Jay Hawke, who lives in a nearby senior facility. Jay’s Social Security number is 433-33-2121. Lisa provides over one-half of Jay’s support but Jay also has a pension that paid him income of $14,000 in 2019. His Social Security benefits were $3,200 in 2019.Required: Complete Lisa’s federal tax return for 2019. fill out Forms 1040-SR, Schedule A, Schedule B, Schedule D, Form 8949, Schedule D Tax Worksheet, and Form 6252 as needed to complete this tax return. Make realistic assumptions about any missing data.
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