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Under Sec. 267, current deductions may not be taken for certain transactions between related parties. Determine who is considered a member of a taxpayers family
Under Sec. 267, current deductions may not be taken for certain transactions between related parties. Determine who is considered a member of a taxpayers family under the related party transaction rules of Sec. 267. Next, identify two (2) other relationships that are considered related parties for purposes of Sec. 267. Within your response, be sure to explain why these other relationships are included in the definition.
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