True or false

1. Scheduled C is used only when an individual is an employee of a company.

2. For expense to be considered deductible in the business, they must be ordinary, necessary and reasonable in the taxpayers trade or business.

3. A warehouse would be depreciated over ten years for MACRS tax purposes.

4. Rental property is depreciated using double-decline balance method over 40 years.

5. Ordinary income is an expenses that is customary or usual for the rental property activity.

6.All expenses related to rental property are deductible in the current year, including capital improvements.