Comprehensive Problem 82 Lisa Kohl age 44 is an unmarried hi

Comprehensive Problem 8-2 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 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.

Required: Complete Lisa\'s Form 1040, Schedules A ( especially what is an anwer for line 5 income taxes or general sales taxes ?)

Complete Lisa\'s Schedule A.

Department of the Treasury Internal Revenue Service (99)

Go to www.irs.gov/ScheduleA for instructions and the latest information.

Attach to Form 1040.

2017

Attachment
Sequence No. 07

467-98-9784

SCHEDULE A
(Form 1040)

Department of the Treasury Internal Revenue Service (99)

Itemized Deductions

Go to www.irs.gov/ScheduleA for instructions and the latest information.

Attach to Form 1040.

OMB No. 1545-0074

2017

Attachment
Sequence No. 07

Name(s) shown on Form 1040 Lisa Kohl	Your social security number 467-98-9784
		Caution. Do not include expenses reimbursed or paid by others.
Medical and Dental Expenses	1	Medical and dental expenses (see instructions) . . . . . . . . . . . . .	1
2	Enter amount from Form 1040, line 38	2
3	Multiply line 2 by 10% (0.10) . . . . . . . . . . . . . . . .	3
4	Subtract line 3 from line 1. If line 3 is more than line 1, enter -0- . . . . . . . . . .	4
Taxes You Paid	5	State and local (check only one box):
	a Income taxes, or	}	. . . . . . . . . . . . . . . . . .	5
	b General Sales Taxes
6	Real estate taxes (see instructions) . . . . . . . . . . . . . . . . . . . . . .	6
7	Personal property taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	7
8	Other taxes. List type and amount _ _ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _	8
9	Add lines 5 through 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	9
Interest You Paid Note. Your mortgage interest deduction may be limited (see instructions).	10	Home mortgage interest and points reported to you on Form 1098	10
11	Home mortgage interest not reported to you on Form 1098. If paid to the person from whom you bought the home, see instructions and show that person\'s name, identifying no., and address _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
	_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _	11
12	Points not reported to you on Form 1098. See instructions for special rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	12
13	Reserved . . . . . . . . . . . . . . . . . . . . . . . . . . .	13
14	Investment interest. Attach Form 4952 if required. See instructions.	14
15	Add lines 10 through 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	15
Gifts to Charity If you made a gift and got a benefit for it, see instructions.	16	Gifts by cash or check. If you made any gift of $250 or more,
see instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	16
17	Other than by cash or check. If any gift of $250 or more, see instructions. You must attach Form 8283 if over $500 . . . . . . .	17
18	Carryover from prior year . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	18
19	Add lines 16 through 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	19
Casualty and Theft Losses	20	Casualty or theft loss(es). Attach Form 4684. See instructions. . . . . . . . . . . . . . . . . .	20
Job Expenses and Certain Miscellaneous Deductions	21	Unreimbursed employee expenses—job travel, union dues, job education, etc. Attach Form 2106 or 2106-EZ if required.
See instructions. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _	21
22	Tax preparation fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	22
23	Other expenses—investment, safe deposit box, etc. List type
and amount _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
	_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _	23
24	Add lines 21 through 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	24
25	Enter amount from Form 1040, line 38	25
26	Multiply line 25 by 2% (0.02) . . . . . . . . . . . . . . . . . . . . . . . . . .	26
27	Subtract line 26 from line 24. If line 26 is more than line 24, enter -0- . . . . . . . . . . . . . . . . .	27
Other Miscellaneous Deductions	28	Other—from list in instructions. List type and amount _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
	28

Total Itemized Deductions	29	Is Form 1040, line 38, over $156,900?
		No. Your deduction is not limited. Add the amounts in the far right column for lines 4 through 28. Also, enter this amount on Form 1040, line 40.	}	. . . .	29
		Yes. Your deduction may be limited. See the Itemized Deductions Worksheet in the instructions to figure the amount to enter.
30	If you elect to itemize deductions even though they are less than your standard deduction, check here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

For Paperwork Reduction Act Notice, see the Instructions for Form 1040.

Cat. No. 17145C

Schedule A (Form 1040) 2017

Line 5:

Income taxes: State $425. The following table contains the line numbers and relevant amounts as provided in Form 1040, the lines which are empty is due to lack of information:

Line	Amount ($)
1	780
2
3
4
5	425
6
7	1425
8
9
10	9250
11
12
13
14
15
16
17
18
19
20
21
22	300
23
24
25
26
27
28
29
30

Comprehensive Problem 8-2 Lisa Kohl (age 44) is an unmarried high school principal. Lisa received the following tax documents (which are located on separate tab

Comprehensive Problem 82 Lisa Kohl age 44 is an unmarried hi

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