1. Which of the following statements is/are false?

	A.	Even if a real estate activity does not rise to the level of conducting a trade or business, expenses paid for the management, conservation, or maintenance of property held for the production of income are tax deductible.
	B.	It is NOT necessary for property held for the production of income to have ACTUAL INCOME in a given tax year for the management, conservation, and maintenance expenses of the property to be currently tax deductible.
	C.	While the costs of repairing and maintaining real property are currently tax deductible, the determination of whether a particular expenditure is a repair or a non-deductible capital expenditure that must be depreciated has been problematic for both taxpayers and the IRS. These problems have resulted in the issuance of the very technical and complex "repair regulations.".
	D.	All of the above are true.