Which of the following is a capital asset?
A)Inventory held by a manufacturer
B)Accounts receivable held by a dentist
C)All property owned by a taxpayer other than property specifically noted in the law as an exception
D)Depreciable property and real estate used in a trade or business

Question

Quizplus · Accepted Answer

A capital asset is generally any property held by a taxpayer, except for specific exclusions such as inventory, accounts receivable, and depreciable business property.

Which of the Following Is a Capital Asset