Problem $4-52($LO$.4)$

Your client, Aldridge, is a generous individual. During the year, he made interest$-$free loans to various family members when the Federal rate was $3\%.$ What impact, if any, will each of the following loans have on Aldridge's gross income?

If an amount is zero, enter $"0".$

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a$.$ On June $30,2024,$ Aldridge loaned $$12,000$ to his cousin, Jim, to buy a used truck. Jim's only source of income was his wages on various construction jobs during the year.