Question: Question 1 (2 points) Deductions accruing from the limited expense election under IRC 179 should be allocated to the shorter-lived assets. True False Question

Question 1 (2 points) Deductions accruing from the limited expense election underIRC 179 should be allocated to the shorter-lived assets. True False Question

Question 1 (2 points) Deductions accruing from the limited expense election under IRC 179 should be allocated to the shorter-lived assets. True False Question 2 (2 points) The at-risk rules prevent taxpayers from including nonrecourse debt in their tax basis. a) True b) False

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