Lisbeth makes the following interest-free loans during the year. The relevant Federal interest rate is 5%, and none of the loans are motivated by tax avoidance. All of the loans were outstanding for the last six months of the tax year. Identify the Federal income tax effects of these loans.

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Borrower's Other Net Investment Income Borrower Amount $5,000 8,000 105,000 Purpose of Loan Gift Stock purchase Purchase principal $800 600 Richard rene 0 residence