Which of the following is not a capital asset?
A)a patent developed by the taxpayer
B)a family's cottage at the beach
C)a husband's wedding ring
D)All of the above are capital assets.

Name: Which of the following is not a capital asset? A)a patent developed by the taxpayer B)a family's cottage at the beach C)a husband's wedding ring D)All of the above are capital assets.
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Question

Quizplus · Accepted Answer

A patent developed by the taxpayer is considered an intangible asset and is not classified as a capital asset for tax purposes.

Which of the Following Is Not a Capital Asset