David and Doris Kelley were divorced on February 3, 2018. They lived apart during 2018. The divorce decree required David to make the following payments:
a. Transfer full title to their jointly owned family home to Doris. Fair market value of the home is $180,000, basis $150,000.
b. $1,000 per month mortgage payments on the house, above. The mortgage has 20 years remaining before being fully paid off, but the payments would end on her death.
c. $2,000 per month for 10 years’ support payments to Doris, of which $600 per month is child support.
d. Doris insisted that the children attend private schools. In 2018, David paid $1,500 in tuition for the children’s private high school.