The LISA Parameter Estimation (LISAPE) Taskforce was formed in September 2007 to provide the LISA Project with vetted codes, source distribution models, and results related to parameter estimation. The Taskforce's goal is to be able to quickly calculate the impact of any mission design changes on LISA's science capabilities, based on reasonable estimates of the distribution of astrophysical sources in the universe. This paper describes our Taskforce's work on massive black-hole binaries (MBHBs). Given present uncertainties in the formation history of MBHBs, we adopt four different population models, based on (i) whether the initial black-hole seeds are small or large, and (ii) whether accretion is efficient or inefficient at spinning up the...