14. Using the following codes, identify the basic approach(es) to tax avoidance that are used in each of the fol-

lowing casesi AR Avoiding recognition of taxable income CT Changing the timing of recognition of income, gains, deductions, losses, and credits CJ Changing tax jurisdictions CC Changing the character of income SI Spreading income among related taxpayers None None of the above

a. Albert invests his savings in tax-exempt state bonds.

b. Betty invests in non-dividend-paying corporate stocks by using borrowed funds.

c. Chuck lends $100,000 to his daughter on an interest-free demand note.

d. Ed invests $100,000 of his savings in a home for his own use.

e. Frankie invests in a mutual fund that purchases only the indebtedness of the state in which he lives.

f. At retirement, Tom moves from New York (a state with a high income tax) to Florida (a state with no income tax).