4-50 (LO. 4) Vito is the sole shareholder of Vito, Inc. He also is employed by the corporation. On June 30, 2022, Vito borrowed $8,000 from Vito, c and on July 1, 2023, he borrowed an additional $10,000. Both loans were due on demand. No interest was charged on the loans, and the Federal rate was 4% for all relevant dates. Vito used the money to purchase a boat, and he had $2,500 of investment income. Determine the tax consequences to Vito and Vito, Inc., In each of the following situations. If an amount is zero, enter "0". If required, round your intermediate computations to the nearest dollar and use these values in subsequent computations. Round your final answers to nearest dollar. a. The loans are considered employer-employee loans. In 2022, Vito has s of compensation income and interest expense compensation income and interest expense. and Vito, Inc. has 1 In 2023, Vito has s of and Vito, Inc. has 1 b. The loans are considered corporation-shareholder loans. In 2022, Vito has s of and Vito, Inc., has s of In 2023, Vito has s of and Vito, Inc, has s of eBook Print Item mprogress=true Exercise 4-26 (Algorithmic) (LO. 4) Determine the taxable amount of Social Security benefits for the following situations. If required, round your answers to the nearest dollar. If an amount is zero, enter "0". a. Tyler and Candice are married and file a joint tax return. They have adjusted gross income of $40,200 before considering their Social Security benefits, no tax-exempt interest, and $14,070 of Social Security benefits. As a result, s of the Social Security benefits are taxable. b. Assume Tyler and Candice have adjusted gross income of $16,000 before considering their Social Security benefits, no tax-exempt interest, and $17,600 of Social Security benefits. As a result, of the Social Security benefits are taxable. c. Assume Tyler and Candice have adjusted gross income of $107,500 before considering their Social Security benefits, no tax-exempt interest, and $16,125 of Social Security benefits. As a result, of the Social Security benefits are taxable