True or False

1. Generally, Gains on sale of a rental property for a person that doesn't qualify as a Real Estate Professional/Dealer/Developer will receive capital gain treatment.

2. Generally, gains on the sale of rental properties for Real Estate Professionals will receive Ordinary treatment, meaning they will be taxed at the lowest rate.

3. Rental Income is generally taxed at Ordinary Income tax rates, not subject to Self Employment Tax.

4. Generally speaking - If you own several rental properties, and cannot meet material participation requirements to permit non-passive treatment of your rental losses.you might consider converting these passive losses to non-passive by electing to aggregate your properties via the Aggregate Property Election

5. Generally - If you rent part of your rental property and you use part for personal use then you do not need to divide expenses between the part of the property used for rental purposes and the part of the property used for personal purposes. You do not have to treat the property as though you actually had two separate pieces of property.