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No, he is not and you do not.
There are special rules that come into play when you see to a related party. This is from Pub 17:
Losses on sales or trades of property. You can’t deduct a loss on the sale or trade of property, other than a distribution in complete liquidation of a corporation, if the transaction is directly or indirectly between you and the following related parties.
No, he is not and you do not.
There are special rules that come into play when you see to a related party. This is from Pub 17:
Losses on sales or trades of property. You can’t deduct a loss on the sale or trade of property, other than a distribution in complete liquidation of a corporation, if the transaction is directly or indirectly between you and the following related parties.
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