Which of the following is not a capital asset?
A)Office building used as a rental property by a real estate professional.
B)Antique automobile.
C)Land held for investment.
D)Stock held for investment.

Question

Quizplus · Accepted Answer

A capital asset is generally defined as property held by an individual or business for investment or personal purposes, excluding property used in a trade or business. An office building used as a rental property by a real estate professional is considered a business asset, not a capital asset, because it is used in the operations of a business rather than held for investment purposes.

Which of the Following Is Not a Capital Asset