need the answers to 3,4,7, and 8.

IRC and Requlations Assionment Related Parties Required: Using only IRC Section 267 of the Internal Revenue Code and its Treasury Regulations, answer the following questions. Cite your answer to the applicable IRC Section (including subsection, paragraph, etc.) and/or Treasury Regulation (including prefix, section, paragraph, etc.). 1. List one transaction that is not given any effect (i.e., is disallowed) if it takes place between related taxpayers. Cite your answer. Section 267 (B). If any property is transferred by the taxpayer at loss to any of the related tax payer, then such loss recognition is prohibited U/S 267(A). Hence this transaction is disallowed, If it take place between related tax payers. 2. Which members of a family are treated as "related taxpayers"? Cite your answer. As per section 267(B) of internal revenue code sister, brothers, spouse, children, and ancestors are covered under the definition of family members, under the purview of related taxpayers. Haif-brother and sisters could count. 3. Which family members are Included in the term, "ancestors"? Which family members are included in the term, "lineal descendants"? Cilte your answer. 3. Which family members are included in the term, "ancestors"? Which family members are included in the term, "ineal descendants"? Clite your answer. 4. When is an indlvidual and a corporation treated as "related taxpayers"? Cite your answer. 5. Are the partners in a partnership and the partnership included as "related persons" In Section 267? Cito your answer. Yes, as per soction 167(E) Internal rovenue codo, speclal rules are applicablo for pass thru entities, whero pass thru entities means partnershlps and 8 corporations. If a person enters the transaction within the capacity of a partner, it will be under the purvlow of related porson. It is to be noted that in a partnership if any person owns any interest or profit interest is sald to bo a parther. 6. Which IRC section govems transactions between partners and partherships? Cite your answer. Transaction between parthers and parthership is governed under section 707 of internal revenue code which includes transaction of transfer of property and services. 7. For purposes of determining "constructive ownership of stock," is a spouse considered as owning the stock owned by the other spouse? Cite your answer. 8. For purposes of determining "constructive ownership of stock," is the stock owned by a corporation considered as being owned by its shareholders? Cite your