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Constant Corporation is a family owned corporation. In 2012, constant redeemed stock from some of its owners. Because of the attribution rules of Code Sec.
Constant Corporation is a family owned corporation. In 2012, constant redeemed stock from
some of its owners. Because of the attribution rules of Code Sec. 318, the redemptions did not
qualify for sale or exchange treatment. However, none of the family members like each other
and they believe that family attribution should be waived because the "bad blood" between
them makes them "unrelated". Advise them about this assertion.
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