Which of the following is incorrect concerning short sales of stock by a taxpayer?

a. At the time the short sale is made, the taxpayer delivers to the purchaser shares the taxpayer borrowed. b. At the time the short sale is made, the taxpayer delivers to the purchaser the shares sold short. c. At the time the short sale is made, the taxpayer must not already own shares in the same corporation and class as the shares actually sold and delivered. d. At the time the short sale is made, the taxpayer must borrow the shares actually sold and delivered. e. Gains and losses on short sales may be capital gains and losses.