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Related Party Losses

"Related Party Losses" Please respond to the following: Ã¢â‚¬Â¢ Section 267 of the IRC disallows a deduction on losses realized on the sale of property and a deduction for accrued expenses between a corporation and a controlling shareholder. GAAP does not include this disallowance provision. Create an argument for allowing a loss on a sales transaction between a controlled corporation and shareholder when the transaction includes an independent

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4 Other / Other Wilmington University / Other 16 May 2015