T/F

16. If the business portion of a principal residence is conducted in a separate structure, the sale should be treated as a sale of two assets (the residence and the portion of the property used as a business) and the Sec. 121 exclusion only applies to the residence portion of the property.

17. If a taxpayer uses more than one property as a residence during the year, the property designated as the principal residence by the taxpayer will be considered the principal residence for exclusion purposes, regardless of other facts and circumstances.

18. Net Sec. 1231 losses previously deducted as ordinary losses are recaptured by changing what would otherwise be ordinary income into LTCG.