Which of the following is a capital asset?
A)A literary work held by the author
B)Real estate held by a developer
C)A taxpayer's principle residence
D)A truck used in a taxpayer's business
E)None of the above

Name: Which of the following is a capital asset? A)A literary work held by the author B)Real estate held by a developer C)A taxpayer's principle residence D)A truck used in a taxpayer's business E)None of the above
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A taxpayer's principal residence is considered a capital asset for tax purposes.

Which of the Following Is a Capital Asset