Which of the Following Is Not True About Capital Assets

question 78

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)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.