True/False

1. A cash basis taxpayer will include compensation in income in the year actually or constructively received.

2. Although the interest from municipal bonds is not taxable any gain on the sale of such bonds is taxable.

3. To qualify for the Series EE bond exclusion the bonds can be a gift from grandparents.

4. Cash dividends as well as stock dividends are taxable.

5. A property settlement is a division of property pursuant to divorce and is taxable to the recipient.