Business, 28.09.2019 04:30 lukeakalucas

On january 1, father (dave) loaned daughter (debra) $100,000 to purchase a new car and to pay off college loans. there were no other loans outstanding between dave and debra. the relevant federal rate on interest was 6 percent. the loan was outstanding for the entire year.
a. if debra has $15,000 of investment income, dave must recognize $6,090 of imputed interest income.
b. dave must recognize $6,090 of imputed interest income regardless of the amount of debra’s investment income.
c. debra must recognize $6,090 of imputed interest income.
d. debra must recognize $6,090 of imputed interest income if dave has at least $6,090 of investment income.
e. none of the above.

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On january 1, father (dave) loaned daughter (debra) $100,000 to purchase a new car and to pay off co...

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