I'd be extremely surprised if there weren't because the IRS has definitely spoken out about that.

The only imputed income at SWA is on the SWAG points not on any flights by you or family members

Disregard my previous post. I admit my understanding was completely inaccurate. All good now.

I don't believe there is any imputed income from parents. However there might be. I also suspect there is imputed income from significant other benefits. At least there was at my previous airline.

Yes there is. Their free travel is considered a fringe benefit to you. You will wind up taxed for what the IRS is told the value of it is at your marginal rate.

https://www.law.cornell.edu/cfr/text/26/1.61-21

Yes, and tax is taken the moment the swag points are paid in your account, so if you later but gift cards or buddy passes it is not taxed again.

Maybe at other airlines but not for SWA. At SWA there is no imputed income on personal, family, or companions passes. The only imputed income is on SWAG points which can be converted to buddy passes, Rapid Reward points, gift cards, or actual items.

Can't find my checkbook. Hope you don't mind I pay you in change.

There is no imputed income at any airline for immediate family members or the employee using pass travel. This is contrary to normal IRS rules and is secured through a special exemption put in place many years ago by ALPA. This exemption often comes up as a item the IRS and some in Congress would like to see eliminated. It takes legislative capital to keep it intact. This is one of many reasons all pilots should contribute to whatever PAC your union has set up. If you don’t please don’t come on forums and complain when commuting suddenly gets very expensive with imputed income on all free travel.
In the case of buddy passes some airlines don’t pay imputed income because they charge what is known legally as a yield fare so the passes are not free. If they are free you owe imputed income regardless of what your employer lists when you file.

That's correct. Imputed income is added for the SWAG points. There is no additional cost or fee for using a buddy pass. (Unless international then departure taxes etc. are charged but that is a separate matter).