of using such asset to secure any indebtedness, and (F) the value of such asset determined under such other valuation method as the Secretary may prescribe. If a covered asset would, but for subsection (c)(3) or any other provision of this part, be treated as a tradable covered asset, the asset's applicable value shall be determined under paragraph (1). (3) Adjustment for debt and other liabilities of the taxpayer Except as provided by the Secretary, the aggregate applicable value of all covered assets of the taxpayer as of any date (determined without regard to this paragraph) shall be reduced by the aggregate outstanding amount of— (A) indebtedness of the taxpayer as of such date, and (B) any other liabilities (other than indebtedness) of the taxpayer as of such date which the Secretary determines are appropriate to be taken into account for such purpose. (4) Reliance on valuation In determining the applicable value of any tradable covered asset for purposes of this section, the taxpayer may rely on a valuation which is— (A) provided to the taxpayer by a broker under section 6045(b), (B) provided to the taxpayer by a dealer in securities or a dealer in commodities, within the meaning of section 475, (C) determined under an applicable financial statement, or (D) provided to the taxpayer by such other persons as may be designated by the Secretary. (5) Applicable financial statement For purposes of this subsection, the term applicable financial statement has the meaning given such term by section 451(b)(3). (6) Special rules for applicable entities In the case of an applicable entity— (A) adjustments to basis of any covered asset under section 493(b)(2) shall be taken into account in determining the adjusted basis of such asset for purposes of paragraph (2)(B), (B) the value of a partner's ownership interest in such partnership under paragraph (2)(C) shall not be less than the value of the partner's capital account under section 704, and (C) the Secretary shall provide rules for determining the share of a holder