Which of the Following Is Not True About Capital Assets

question 32

Multiple Choice

Which of the following is not true about capital assets?

• A)Real property used in a trade or business is not a capital asset.
• B)Capital losses may be carried back for 3 years to offset capital gains in those years.
• C)For 2016, net long-term capital gains are granted preferential tax treatment.
• D)Individual taxpayers may deduct net capital losses of up to $3,000 per year.
• E)Shares of stock held for investment are capital assets.

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Definitions:

Military Families

Families where one or more members serve in the armed forces, often facing unique challenges such as frequent relocations and deployment-related separations.

Abuse or Neglect

Involves the mistreatment of individuals, typically vulnerable ones like children or the elderly, through harmful actions or the failure to provide necessary care.

Deployed

Refers to the movement of military personnel to specific areas for service or duty.

Non-normative Transitions

Life events that occur unexpectedly or unconventionally, challenging standard developmental paths.