In Allocating Basis Under Irc Section 755 Which Of The Following Rules Applies T

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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