Jim and Carolyn, who are married, establish a Coverdell Education Savings Account to pay for the future college expenses of their infant son. They file jointly and have a modified AGI of $100,000. What is the maximum contribution they can make to a CESA in the current year?

a) $3,000
b) $2,000
c) $4,000
d) $8,000

Ans: b) $2,000

Business

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Indicate whether the statement is true or false a. True b. False

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The transfer of title from grantor to grantee, and from that grantee to a subsequent grantee, and so on, is called

a. a cloud on the title. b. the chain of title. c. delivery and acceptance. d. an acknowledgment.

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