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In allocating basis under IRC Section 755, which of the following rules applies to allocation between classes of assets?A negative adjustment would not be allocated to any class of asset.A positive ad
In allocating basis under IRC Section 755, which of the following rules applies to allocation between classes of assets?
A negative adjustment would not be allocated to any class of asset.
A positive adjustment is apportioned according to the difference between basis and fair market value.
A positive adjustment would only be allocated to an asset that has appreciated in value.
A positive adjustment would only be allocated to the class that has depreciated in value.
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