1 2 3 4 5 6 7 8 10 11 12 13 14 1 15 Question 5 (1 point) Which of the following situations would require interest to be imputed to the lenders at federal rates under the below market interest loan rules? A $20,000 no interest loan from a grandmother to her grandson to put a down payment on a townhouse. The grandson has no investment income No interest loans of up to $5,000 made from a corporation to its employees No interest loans of $50,000 each from a corporation to its two shareholders All of the above below market loans must impute interest to the lender. Question 6 (1 point) Which of the following situations likely would require recognition of taxable income under the tax benefit rule? A state income tax refund received in 2021 by a single taxpayer who took the standard deduction on his 2020 federal 1040. A refund received from a fashion retailer that overcharged interest payments received from customers using its store credit card during 2020. The refunds were received in 2021. Consumer credit card interest is not deductible.