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Which of the following is correct regarding the ordering of exclusions and the reduction of tax attributes? Question 11Select one: a. The bankruptcy exclusion takes
Which of the following is correct regarding the ordering of exclusions and the reduction of tax attributes? Question 11Select one: a. The bankruptcy exclusion takes precedence over the insolvency exclusion. b. To the extent that the taxpayer is insolvent, the insolvency exclusion takes precedence over qualified farm debt or qualified real property business indebtedness exclusions. c. None of the above are correct d. A and B are correct
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