Which one of the following is a capital asset? A. Automobile used for personal purposes B. Autornobile held by car dealer for sale C. Automobile used in taxpayers trade or business D. Both B \& C QUESTION 27 Andrea died with an unused capital loss carryover of $3,300. The carryover A. May be carried back 3 years B. Will be fully used on Andrea's final income tax return C. Will be inherited by Andrea's heirs D. Expires with death QUESTION 28 How long must a capital asset be hold to qualify for long term treatment? A. One year B. One year and one day C. Same trade date one year from purchase D. Six months