A capital asset includes all of the following except:
A)A taxpayer's home.
B)Inherited property.
C)Real estate used in the taxpayer's trade or business.
D)Real estate held for investment.

Question

Quizplus · Accepted Answer

A capital asset includes property such as a taxpayer's home, inherited property, and real estate held for investment. However, real estate used in the taxpayer's trade or business is not considered a capital asset; instead, it is typically classified as a business asset, subject to different tax treatment.

A Capital Asset Includes All of the Following Except