### Question
How is the term related person defined?


### Answer
The term **related person** is defined in *26 U.S.C. § 468B* as the following:

> a person related to the taxpayer within the meaning of section 267(b)

#### Citation:
  - *26 U.S.C. § 468B*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter E-Accounting Periods and Methods of Accounting > PART II-METHODS OF ACCOUNTING > Subpart C-Taxable Year for Which Deductions Taken**

