TRUE OR FALSE

A rental properly that is used no more than 14 days for personal purpose4s (or 10% of total rental days, whichever is greater) is considered primarily rental property.

A statutory employee is an independent contractor.

Scheduled C is used only when an individual is an employee of a company.

For expense to be considered deductible in the business, they must be ordinary, necessary and reasonable in the taxpayers trade or business.

A warehouse would be depreciated over ten years for MACRS tax purposes.

Depreciation expenses for tax purposes differs from depreciation for financial accounting calculations