[Condor51]

*** She gets the imputed income as she should have made (and paid taxes on) that $100,000.00 she could have earned.
AND
He gets the imputed income as he received (and should have paid taxes on) that $100,000.00 worth of value he didn't have to pay out of his own pocket...***

Okay, I was at least 'technically' half right; She does get nailed for the "imputed income".

I just disagree on the term "Imputed Income" for Rahm₍₁₎. I think his "Income" falls more under the Gift Tax as he was 'given' something of value.

And I still think we should call Charlie Rangel for his 'expert' opinion :-)

(1) I looked up the definition and examples of Imputed Income and they didn't seem to pertain to Ram's 'free' room and board.

[null and void]

What the hell, tax him as if it was both “imputed income” AND a gift...