Question: The Section 754 election allows a partnership to elect to: a) Adjust the basis of partnership property when it is distributed to a partner b)

The Section 754 election allows a partnership to elect to: a) Adjust the basis of partnership property when it is distributed to a partner b) Elect to be treated as an ELP c) Elect to expense rather than depreciate certain items d) Increase a partner's basis in the partnership

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