2. Lisa Kohl (birthdate 02/14/1953) is an unmarried high school principal. Lisa received the following tax...

  
 
 
 

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2. Lisa Kohl (birthdate 02/14/1953) is an unmarried high school principal. Lisa received the following tax documents: a Employee's social security number 467-98-9784 Safe, accurate, OMB No. 1545-0008 FASTI Use efile Visit the IRS wwebsite at www.irs govletile b Employer identification number (EIN) 56-1357924 c Employer's name, address, and ZIP code 1 Wages, tips other compensation 56,640.00 3 Social security wages 2 Federal income tax withheld 6,100.00 4 Social security tax withheid Shawnee Mission School District 59,000.00 3,658.00 6 Medicare tax withheld 8200 W. 71st Street 5 Medicare wages and tips 59,000.00 7 Bocial seourity tips 855.50 Shawnee Mission, KS 66204 8 Alocated tips d Control number 10 Dependent care benefits e Employee's first name and initial Last name STE NOquaifed plans 12a See instructions for box 12 2,360.00 Lisa Kohl 212 Quivira Road Overland Park, KS 66210 Fum 12b DD 9,800.00 14 Other 120 12d I Employee's address and ZIP code 15 Sute Employer's state ID nurnber KSL 18 Local wages, tips, etc 19 Local income tax 20 Locaity ame 16 State wages, tips, eto. 17 State income tax 56,640.00 1.150.00 Department of the Treasury-tenal Revenue Service Pom W-2 Wage and Tax Statement 2019 Copy B-To Be Filed With Employee's FEDERAL Tax Return. This information is being furnished to the Internal Revenue Service. CORRECTED (f checked) EATERname street address, oty or town, state or province, country, ZIP| Payars RTN isptiona of Turegn postal code, and telephone na. OMB No. 1545-0112 Olanthe National Bank 1240 E. Sante Fe Street Olanthe, KS 66061 Interest 2019 1 nterest income Income $ 203.88 Form 1099-INT 2Earty withdrawal peralty Copy B PAYERS TIN RECIPENT'S TIN Is 44-1352469 467-98-9784 3 Interest on U.S. Savings Bonds and Treas obligatione For Reciplent RECIPIENTS ame 4 Federal income ta wihelid S Investmert expenses This is important tax Information and is Lisa Kohl 6 Foreign tax paid 7Fregncouty orUS pe neing fumished to the IRS. If you are required to file a retum, a negligence penalty or other sanction may be imposed on you it this income is taxable and the IRS determines that it has not been reported. Breet addes nchudng aot. no 212 Quivira Rd. Tax-oxempt ierst Spectet pnva actvy bond ere City en, stae or provinoe, country, and ZP or lregn pe Overland Park, KS 66210 10 Mere decount 11Bond pramium 12 er wfe n13trmmon ta n bond Accunt umber a instructions 14 Ta mt ted bond CUP ne 16 St 16 e detication e 17 tate ta witheld Fu 1099-INT (keep for your records) Deoent of the Treaury-Intemal Revenue Service www.in.gowfomt00NT Depreciation and Sale O CORRECTED (if checked) PAYER'S name, atreet address city or town, state or province, country, ZIP 1a Total ordinary dividends or foreign postal code, and teiephone no. OMB No. 1545-0110 Dividends and Distributions $ 4,122.40 2019 1b Qualified dividends Johnson Corporation 100 E. 49th Street New York, NY 10017 $ 4,122.40 Fom 1099-DIV 26 Unrecap. Sec. 1250 gain %24 2a Total capital gain distr. Copy B For Recipient %24 2d Collectibles (28%) gain 20 Section 1202 gain PAYERS TIN RECIPIENTS TIN 17-2468135 467-98-9784 2$ 3 Nondividend distributions 4 Fedoral income tax withheld This is importart t information andis being fumished to the RS.you ae required to fea retum, anegligenoe penaty or other sanction may be imposed on youl this income is teable and the RS determines thatit han not been repoted. RECIPIENTS name 24 $ 0.00 Lisa Kohl 5 Section 199A dividends 6 Investment expenses %24 8 Foregn country or US. posssion Street address (including apt. no) 7 Foreign tax paid 212 Quivira Road %24 City or town, state or province, country, and ZIP or foreign postal code 9 Cash liquidation distributions 10 Noncash liquidation datribution 24 Overland Park, KS 66210 %24 FATCA Ning 11 Exempt-interest dividende 12 Speoted private activity requirement bond interest dividends Account number (see inatructiona) 13 State 14 Su fictionn5 thheld Fom 1099-DIV (keep for your records) www.ins.gov/Form1099DN Dpormt ot the Treasury - Intermal Reverue Service During the year, Lisa paid the following amounts (all of which can be substantiate Home mortgage interest reported on Form 1098 (not shown) KS state income tax payment for 2018 MasterCard interest 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) $9,540 $475 550 750 1,525 250 780 300 750 Lisa's sole stock transaction was reported to her on a Form 1099-B: PAYER'S name, street address, city or town, state or province, country, ZIP Applicable checkbox on Form 8949 Proceeds From Broker and 2019 Barter Exchange Transactions CORRECTED (if checked) OMB No. 1545-0715 or foreign postal code, and teiephone no. Big Brokerage Company 123 Wall Street New York, NY 10014 Form 1099-B 1a Description of property (Example: 100 sh. XYZ Co.) 100 shs. Johnson Corp. 1e Date sold aor disposed 11/05/2019 1b Date acquired 12/13/2018 1e Cost or other basis 35,600.00 1g Wash sale loss disallowed Copy B For Recipient PAYER'S TIN RECIPIENTS TIN 1d Proceeds 11-0010011 $ 17,200.00 467-98-9784 1f Accrued market discount RECIPIENT'S name 3 f checked, proceeds from: 2 Short-term gain or loss O Long-term gain or los Collectibles Lisa Kohl This is important tax information and is being furnished to the IRS. If you are required to file a retum, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported. QOF Ordinary 4 Federal income tax withheld 5 H chacked. noncovered Street address (including apt. no.) security 212 Quivira Rd. 7Hchared can is not alowed bneren wsunt in 1d 6 Reported to lRS: City or town, state or province, country, and 2IP or foreign pontal code Grose proceeds Net proceecs Overland Park. KS 66210 a Prollt or (one) reallzen 2019 closed cont'sts e on onto 12/01/2018 Account number (eis lautiona I24 SATCA ng reiremeni 10 Unvealcad proft or los on 11 Aggregala profit or (osa) open oontracts-12/31/2010 CUSIP number on contracts 24 12 If checked, basis reported 13 Bartering to IRS 14 State name 16 State idertification no 10 Sate tax withheld 図|$ Fom 1099-B (Keep for your records) www.irs.gov/Form10000 Department of the Treasury - Intemal Revenue Service 000 口図 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 prin- cipal 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 sup- port 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. Use Form 1040-SR, Schedule A, Schedule B, Schedule D, Form 8949, the Qualified Dividends and Capital Gain Tax Worksheet, and Form 6252 as needed to complete this tax return. Make realistic assumptions about any missing data. 2. Lisa Kohl (birthdate 02/14/1953) is an unmarried high school principal. Lisa received the following tax documents: a Employee's social security number 467-98-9784 Safe, accurate, OMB No. 1545-0008 FASTI Use efile Visit the IRS wwebsite at www.irs govletile b Employer identification number (EIN) 56-1357924 c Employer's name, address, and ZIP code 1 Wages, tips other compensation 56,640.00 3 Social security wages 2 Federal income tax withheld 6,100.00 4 Social security tax withheid Shawnee Mission School District 59,000.00 3,658.00 6 Medicare tax withheld 8200 W. 71st Street 5 Medicare wages and tips 59,000.00 7 Bocial seourity tips 855.50 Shawnee Mission, KS 66204 8 Alocated tips d Control number 10 Dependent care benefits e Employee's first name and initial Last name STE NOquaifed plans 12a See instructions for box 12 2,360.00 Lisa Kohl 212 Quivira Road Overland Park, KS 66210 Fum 12b DD 9,800.00 14 Other 120 12d I Employee's address and ZIP code 15 Sute Employer's state ID nurnber KSL 18 Local wages, tips, etc 19 Local income tax 20 Locaity ame 16 State wages, tips, eto. 17 State income tax 56,640.00 1.150.00 Department of the Treasury-tenal Revenue Service Pom W-2 Wage and Tax Statement 2019 Copy B-To Be Filed With Employee's FEDERAL Tax Return. This information is being furnished to the Internal Revenue Service. CORRECTED (f checked) EATERname street address, oty or town, state or province, country, ZIP| Payars RTN isptiona of Turegn postal code, and telephone na. OMB No. 1545-0112 Olanthe National Bank 1240 E. Sante Fe Street Olanthe, KS 66061 Interest 2019 1 nterest income Income $ 203.88 Form 1099-INT 2Earty withdrawal peralty Copy B PAYERS TIN RECIPENT'S TIN Is 44-1352469 467-98-9784 3 Interest on U.S. Savings Bonds and Treas obligatione For Reciplent RECIPIENTS ame 4 Federal income ta wihelid S Investmert expenses This is important tax Information and is Lisa Kohl 6 Foreign tax paid 7Fregncouty orUS pe neing fumished to the IRS. If you are required to file a retum, a negligence penalty or other sanction may be imposed on you it this income is taxable and the IRS determines that it has not been reported. Breet addes nchudng aot. no 212 Quivira Rd. Tax-oxempt ierst Spectet pnva actvy bond ere City en, stae or provinoe, country, and ZP or lregn pe Overland Park, KS 66210 10 Mere decount 11Bond pramium 12 er wfe n13trmmon ta n bond Accunt umber a instructions 14 Ta mt ted bond CUP ne 16 St 16 e detication e 17 tate ta witheld Fu 1099-INT (keep for your records) Deoent of the Treaury-Intemal Revenue Service www.in.gowfomt00NT Depreciation and Sale O CORRECTED (if checked) PAYER'S name, atreet address city or town, state or province, country, ZIP 1a Total ordinary dividends or foreign postal code, and teiephone no. OMB No. 1545-0110 Dividends and Distributions $ 4,122.40 2019 1b Qualified dividends Johnson Corporation 100 E. 49th Street New York, NY 10017 $ 4,122.40 Fom 1099-DIV 26 Unrecap. Sec. 1250 gain %24 2a Total capital gain distr. Copy B For Recipient %24 2d Collectibles (28%) gain 20 Section 1202 gain PAYERS TIN RECIPIENTS TIN 17-2468135 467-98-9784 2$ 3 Nondividend distributions 4 Fedoral income tax withheld This is importart t information andis being fumished to the RS.you ae required to fea retum, anegligenoe penaty or other sanction may be imposed on youl this income is teable and the RS determines thatit han not been repoted. RECIPIENTS name 24 $ 0.00 Lisa Kohl 5 Section 199A dividends 6 Investment expenses %24 8 Foregn country or US. posssion Street address (including apt. no) 7 Foreign tax paid 212 Quivira Road %24 City or town, state or province, country, and ZIP or foreign postal code 9 Cash liquidation distributions 10 Noncash liquidation datribution 24 Overland Park, KS 66210 %24 FATCA Ning 11 Exempt-interest dividende 12 Speoted private activity requirement bond interest dividends Account number (see inatructiona) 13 State 14 Su fictionn5 thheld Fom 1099-DIV (keep for your records) www.ins.gov/Form1099DN Dpormt ot the Treasury - Intermal Reverue Service During the year, Lisa paid the following amounts (all of which can be substantiate Home mortgage interest reported on Form 1098 (not shown) KS state income tax payment for 2018 MasterCard interest 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) $9,540 $475 550 750 1,525 250 780 300 750 Lisa's sole stock transaction was reported to her on a Form 1099-B: PAYER'S name, street address, city or town, state or province, country, ZIP Applicable checkbox on Form 8949 Proceeds From Broker and 2019 Barter Exchange Transactions CORRECTED (if checked) OMB No. 1545-0715 or foreign postal code, and teiephone no. Big Brokerage Company 123 Wall Street New York, NY 10014 Form 1099-B 1a Description of property (Example: 100 sh. XYZ Co.) 100 shs. Johnson Corp. 1e Date sold aor disposed 11/05/2019 1b Date acquired 12/13/2018 1e Cost or other basis 35,600.00 1g Wash sale loss disallowed Copy B For Recipient PAYER'S TIN RECIPIENTS TIN 1d Proceeds 11-0010011 $ 17,200.00 467-98-9784 1f Accrued market discount RECIPIENT'S name 3 f checked, proceeds from: 2 Short-term gain or loss O Long-term gain or los Collectibles Lisa Kohl This is important tax information and is being furnished to the IRS. If you are required to file a retum, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported. QOF Ordinary 4 Federal income tax withheld 5 H chacked. noncovered Street address (including apt. no.) security 212 Quivira Rd. 7Hchared can is not alowed bneren wsunt in 1d 6 Reported to lRS: City or town, state or province, country, and 2IP or foreign pontal code Grose proceeds Net proceecs Overland Park. KS 66210 a Prollt or (one) reallzen 2019 closed cont'sts e on onto 12/01/2018 Account number (eis lautiona I24 SATCA ng reiremeni 10 Unvealcad proft or los on 11 Aggregala profit or (osa) open oontracts-12/31/2010 CUSIP number on contracts 24 12 If checked, basis reported 13 Bartering to IRS 14 State name 16 State idertification no 10 Sate tax withheld 図|$ Fom 1099-B (Keep for your records) www.irs.gov/Form10000 Department of the Treasury - Intemal Revenue Service 000 口図 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 prin- cipal 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 sup- port 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. Use Form 1040-SR, Schedule A, Schedule B, Schedule D, Form 8949, the Qualified Dividends and Capital Gain Tax Worksheet, and Form 6252 as needed to complete this tax return. Make realistic assumptions about any missing data.

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