A business taxpayer sells inventory for $60,000. The adjusted basis of the property is $58,000 at the time of the sale and the inventory had been held more than one year. The taxpayer has:

Answer

	a.	No gain or loss.
	b.	Sold a long-term capital asset.
	c.	Sold a short-term capital asset.
	d.	An ordinary gain.
	e.	None of the above.