A related person can be defined as:
Your family but only brothers and sisters (including half-blood), spouse, ancestors, and lineal descendants.
You and a corporation if you own—directly or indirectly—more than 50% in value of the stock. Or if the stock is owned for you.
Two corporations that are members of the same controlled group.
A grantor and a fiduciary of any trust.
A fiduciary of a trust and a fiduciary of another trust, if the same person is a grantor of both trusts.
A fiduciary of a trust and a beneficiary of the same trust, if the same person is a grantor of both trusts.
A fiduciary of a trust and a corporation if more than 50% of the value of the outstanding stock is owned—directly
A corporation and a partnership if you own (1) more than 50% of the value of the outstanding stock of the corporation and (2) more than 50% of the capital interest or the profits interest in the partnership.
An S corporation and another S corporation if you own more than 50% in value of the outstanding stock of each corporation.
An S corporation and a C corporation if you own more than 50% in value of the outstanding stock of each corporation.
By the way, here the is 2 year related party rule, explained:
If property received in a 1031 exchange between related persons is disposed of before two years after the date of the last transfer in the exchange, the related taxpayer 2-year time rule applies. Any gain or loss not recognized on the original exchange will trigger and be recognized as of the date the property is disposed of.indirectly—by or for the trust or by or for a person who is a grantor of the trust.
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