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4. A section 754 election results in which of the following? a. Outside basis of a new member is automatically increased b. All members' participate
4. A section 754 election results in which of the following? a. Outside basis of a new member is automatically increased b. All members' participate in the increase of inside basis c. Inside basis is increased and depreciation associated with the increase is allocated to the new member associated with the 754 election d. The election is only available to a partnership and not to an LLC 
4. A section 754 election results in which of the following? a. Outside basis of a new member is automatically increased b. All members' participate in the increase of inside basis c. Inside basis is increased and depreciation associated with the increase is allocated to the new member associated with the 754 election d. The election is only available to a partnership and not to an LLC
4. A section 754 election results in which of the following? a. Outside basis of a new member is automatically increased b. All members' participate in the increase of inside basis c. Inside basis is increased and depreciation associated with the increase is allocated to the new member associated with the 754 election d. The election is only available to a partnership and not to an LLC
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