An estate for years must have:
a. an indefinite term
b. a definite term
c. a negotiable term
d. a nonrenewable term
Answer: b. a definite term
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What is a channel in communication?
a. someone who places advertising into media b. any communication medium c. usually an ad agency or public relations firm d. the only source of noise
In February 2016, Paul and Jean, a married couple, cashed a qualified Series EE savings bond they bought in November 2005. They received proceeds of $7,132, representing principal of $5,000 and interest of $2,132. In 2016, they helped pay their daughter's college tuition. The qualified education expenses they paid in 2016 totaled $4,000. They are not claiming an education credit for the expenses, and they do not have an education IRA. How much interest income can Paul and Jean exclude?
a. $4,000 b. $1,000 c. $1,196 d. $2,132