All of the following are capital assets with the exception of
A)Stocks and bonds.
B)Office furniture used in a business
C)Monet painting privately held.
D)Apartment building held for investment.
E)Personal residence.

Question

Quizplus · Accepted Answer

Office furniture used in a business is not considered a capital asset because it is used in the operation of a business and is classified as business property, which is subject to different tax treatment compared to capital assets like stocks, bonds, artworks, investment properties, and personal residences.

All of the Following Are Capital Assets with the Exception