Federal Tax Research 10th Edition by Steven Gill, Gerald Whittenburg, Roby Sawyers, Debra Sanders, William Raabe

Exercise 19

Formulate a search query to determine whether your client is required to include in gross income the proceeds from redemption of a tax-exempt bond, purchased in 1998 and called by the school district this year. Redemption proceeds were $190,000, and the 1998 purchase price on the secondary market was $176,000. Give an example of an online search query using only the following Checkpoint connectors: "and," "or," "/n," and "not."