CHASE, Circuit Judge.
In 1927 the petitioner bought a parcel of real estate and in 1938 he purchased a mortgage. In 1940 he made a bona fide sale of both properties to his brother and sustained a loss on each. In his income tax return for 1940, he reported both as long term capital losses and claimed deductions for them. The commissioner disallowed the deductions on the ground that sales of property by one brother to another are transactions between members of a family...
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