Which of the following is the correct order in which loss limitation rules are applied?
A) Basis rules 1st, at-risk rules 2nd, passive loss rules 3rd.
B) Passive loss rules 1st, at-risk rules 2nd, basis rules 3rd.
C) Basis rules 1st, passive loss rules 2nd, at-risk rules 3rd.
D) Passive loss rules 1st, basis rules 2nd, at-risk rules 3rd.
E) None of the choices are correct.
Correct Answer:
Verified
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