1) Of the choices that follow, which does not result in a capital loss or gain?

(a) the sale of a personal use asset;

(b) the sale of inventory;

(c) the gain on equipment used in a trade or business and held for more than one year, if it is the only asset sale during the year; or

(d) the sale of capital stock in another company.

2) All of the following are examples of taxable fringe benefits, except:

(a) personal use of the Airbus A-319 CJ Executive Airliner for a family trip to Barbados;

(b) a $1,000,000 group-term life insurance policy;

(c) monthly employer-provided parking in downtown Chicago, normally valued at $225 for paying customers;

(d) an automobile allowance; or

(e) an amount paid to an employee for moving expenses in excess of actual moving costs.