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This material is not intended to be used, nor can it be used by any taxpayer, for the purpose of avoiding U.S. federal, state, or local tax penalties.

This material is written to support the promotion or marketing of the transaction(s) or matter(s) addressed by this material. Broker Educational Sales & Training, Inc., its affiliated companies, distribution partners, and their respective representatives do not provide tax, accounting, or legal advice.

Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.