(Solution) - Brenda loaned her son Bart 250 000 to purchase a new -(2025 Original AI-Free Solution)

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Brenda loaned her son Bart $250,000 to purchase a new home. Brenda did not charge interest on the loan. Brenda was required to recognize imputed interest income, and Bart had imputed home mortgage interest expense that he deducted as an itemized deduction. Would Brenda's and Bart's combined total income taxes likely increase or decrease as a result of the imputed interest? Explain.