Questin 29., Which is a capital asset? O Business supplies Real property used in a trade or business. 0 Your car that you use for personal errands. O Inventory. Mark for follow up Question 30 of 75. Teresa purchased a necklace for $100 in 9965. In 2015, Teresa gave the necklace to her granddaughter, Lindsey. At the time of the gift, the necklace had an appraised value of $850. In 2017, Lindsey sold the necklace for $1,200. What is the amount and character of Lindsey's gain from this sale? O $350 ordinary gain. $350 long-term capital gain. O $1,100 ordinary gain. O $1.100 long-term capital gain. Mark for follow up Back Save/ Return Later Summary Next