Which of the following is true about capital assets?
A) Real property used in a trade or business is a capital asset.
B) Capital losses may be carried back 3 years to offset capital gains in those years.
C) For 2011,net long-term capital losses are granted preferential tax rates.
D) Individual taxpayers may deduct net capital gains of up to $3,000 per year.
E) Shares of stock held for investment are capital assets.
Correct Answer:
Verified
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