Asked by Klaudia Kuzia on Jun 04, 2024
Verified
Real property held for investment is a capital asset.
Real Property
Land and anything permanently attached to the land, like buildings, is considered real property.
Capital Asset
A Capital Asset is a significant piece of property such as investments, real estate, and personal items that is not easily sold in the regular course of a business's operations.
- Shed light on how Section 1231 gains and losses are addressed across different instances.
Verified Answer
SS
shamanie speedJun 09, 2024
Final Answer :
True
Explanation :
Real property held for investment is considered a capital asset under the tax code.
Learning Objectives
- Shed light on how Section 1231 gains and losses are addressed across different instances.
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