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Which of the following statement(s) is/are correct regarding buy-sell agreements? (1) Entity purchase agreements increase the income tax basis for some survivors upon the

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Which of the following statement(s) is/are correct regarding buy-sell agreements? (1) Entity purchase agreements increase the income tax basis for some survivors upon the death of another owner. (2) Cross-purchase agreements increase the income tax basis for all survivors upon the death of another owner. (1) only. (2) only. Both (1) and (2). Neither (1) nor (2).

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