Question: Under Sec. 2 6 7 , current deductions may not be taken for certain transactions between related parties. Who is considered a member of a

Under Sec. 267, current deductions may not be taken for certain transactions between related parties.
Who is considered a member of a taxpayers family under the related party transactions rules of Sec. 267?
Identify some of the other relationships that are considered related parties for purposes of Sec. 267? Why are these relationships included in the definition?

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