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Family trust first ime homebuyer


bigdadder

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You haven't said exactly in what capacity the parents of the purchaser, and the purchaser himself, are related to this trust. You said the purchaser is the son of a "member". By "member" do you mean that this parent is a fiduciary or beneficiary of the family trust?

The instructions for the form direct people to Pub 544 (not authoritative), chapter 2 in the section "Sales to related parties". It has a list of related parties. Perhaps that will help you make a decision.

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