As discussed in Chapter 3, the IRS carefully scrutinizes transactions between related parties. Several different code sections

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As discussed in Chapter 3, the IRS carefully scrutinizes transactions between related parties. Several different code sections define which taxpayers are considered related parties. Suppose that Marsha and Jan are sisters. Are they considered family members and, therefore, related parties under Section 318(a)(1)? How about under Section 267(b)(1)?
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