Which of the following is not true about capital assets?

a. For 2015, net long-term capital gains are granted preferential tax treatment.

b. Real property used in a trade or business is not a capital asset.

c. Capital losses may be carried back for 3 years to offset capital gains in those years.

d. Shares of stock held for investment are capital assets.

e. Individual taxpayers may deduct net capital losses of up to $3,000 per year.