AllenJordan invested in a low-income housing limited partnership in the current tax year. Which of the following tax mechanisms may enable the investment to achieve tax advantages for the limited partner?

(I) The investment in the limited partnership qualifies for low-income housing tax credits.

(II) A portion of the gross rental income can be excluded.

(III) The tax impact may be magnified by the use of qualified nonrecourse and recourse financing.

(IV) The cost of the investment can be recovered using special accelerated depreciation.