Which of the following does not ultimately result in a capital gain or loss?
A)Sale of a personal use asset.
B)Sale of inventory.
C)Gain on equipment used in a trade or business held for more than one year,if it is the only asset sale during the year.
D)Sale of capital stock in another company.
E)None of thesE.Inventory is always an ordinary asset because it is held in the ordinary course of a trade or business.

Question

Quizplus · Accepted Answer

Inventory is considered an ordinary asset, and its sale results in ordinary income or loss, not a capital gain or loss.

Which of the Following Does Not Ultimately Result in a Capital