Under Section $1221,$ which of the following is a noncapital asset?

An office building that is rented to others

A painting bought from the artist

Accounts receivable of a manufacturer

Flowers for sale by a florist

An office building that is rented to others

A painting bought from the artist

Accounts receivable of a manufacturer

Flowers for sale by a florist

If the IRS disallows this loss, it will most likely be because of the

A$)$

sham transaction doctrine.

B$)$

substance over form doctrine.

C$)$

hobby loss rules.

D$)$

tax benefit rule.