13. Which of the following statements does not apply to a Roth IRA?

a. The maximum annual contribution is $5,000 for people under age 50.

b. For withdrawals of earnings to be tax-free, there is a five-year waiting period.

c. After the required waiting period, all withdrawals are tax-free.

d. A 10% early withdrawal penalty applies to all withdrawals made during the first five years.

e. None of the above.

14. Which of the following fringe benefits is not subject to the discrimination rules?

a. Working condition fringe benefits

b. On-premises athletic facilities

c. Qualified employee discounts

d. Group-term life insurance

e. All of the above are subject to the discrimination rules

15. The maximum dollar limit on deductible moving expenses is:

a. $2,250.

b. $5,250.

c. $7,250.

d. $10,250.

e. there is no dollar limit as long as it was paid and a valid expense

16. Which of the following statements is true regarding the foreign earned income exclusion?

a. The taxpayer must reside and work in a foreign country for the entire year to qualify for the foreign earned income exclusion.

b. The taxpayer must reside and work in a foreign country for at least 330 days during the year to qualify for the foreign earned income exclusion.

c. The taxpayer must reside and work in a foreign country for at least 330 days in a 12-month period to qualify for the foreign earned income exclusion.

d. The taxpayer must reside and work in a foreign country for 330 days to qualify for the foreign earned income exclusion.

e. None of the above.