An individual purchased a warehouse as an investment property two years ago. During the current year, the individual earned rents of $and paid the following expenses; interest of $6,000, property taxes of $2,000, heat, light and power of $500, and maintenance of $300. The UCC of this Class 1 property was $60,000 on January 1 of the current yearThe individual cannot claim a rental loss in the current year. True False