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 the choices are correct.

Question

Quizplus · Accepted Answer

Inventory is always an ordinary asset because it is held in the ordinary course of a trade or business.

Which of the Following Does Not Ultimately Result in a Capital