The exclusion for interest earned on U$.$S$.$ savings bonds used to finance higher education of the taxpayer is available only to the individual who purchased the bond.

An individual's excess capital loss amount may be carried over only for a period of five years.

The constructive receipt doctrine only applies to cash basis taxpayers.

The additional standard deduction for age will be allowed for an individual who dies before attaining age of $65$ if the individual would have been age $65$ before the close of the year of death.