True or False:-

1- Taxpayers may deduct up to $7,500 of items under the repairs and maintenance regulations' de minimis election

True

False

2- Amounts deductible under the repairs and maintenance regulations are not required to be capitalized under the 263A rules.

True

False

3- Incidental materials and supplies are generally deductible when the expense is incurred rather than when used.

True

False

4- A "unit of property" includes all components that are functionally interdependent

True

False

5- Amounts paid to acquire real property are required to be capitalized but amounts paid to better or improve such real property may be expensed as repairs

True

False