Response to the following problem:
When an employer makes a loan of less than $100,000 to one of its employees, the imputed interest rules do not apply if the employee's net investment income is less than $1,000.
Children subject to the kiddie tax are required to pay tax on all of their investment income using their parents' tax rate.
Taxpayers must include in gross income any refunds they receive for overpaying their state income taxes.
Gambling winnings are included in gross income.