1- 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 Debras 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 these.

2- Gordon, an employee, is provided group term life insurance coverage equal to twice his annual salary of $125,000 per year. According to the IRS Uniform Premium Table (based on Gordons age), the amount is $12 per year for $1,000 of protection. The cost of an individual policy would be $15 per year for $1,000 of protection. Since Gordon paid nothing towards the cost of the $250,000 protection, he must include in his 2019 gross income which of the following amounts?

a. $1,350.

b. $2,400.

c. $3,000.

d. $3,750.

e. None of these.

3- Jay, a single taxpayer, retired from his job as a public school teacher in 2019. He is to receive a retirement annuity of $1,200 each month and his life expectancy is 180 months. He contributed $36,000 to the pension plan during his 35year career, so his adjusted basis is $36,000. Jay collected 192 payments before he died. What is the correct method for reporting the pension income?

a. Since Jay is no longer working, none of the pension payments must be included in his gross income.

b. The first $36,000 received is a nontaxable recovery of capital, and all subsequent annuity payments are taxable.

c. The first $180,000 he receives is taxable and the last $36,000 is a nontaxable recovery of capital.

d. All of the last 12 payments he received ($14,400) are taxable.

e. None of these.

Please help me out for all 3 question.