Assertion: capital asset | /r/HasProperty | asset
Facets:
value: for income tax purposes
type: PURPOSE
Source sentences:
text: Key Takeaways Capital assets are assets that are used in a company's business operations to generate revenue over the course of more than one year.
text: For Income Tax purposes, a capital asset is property held by a taxpayer for personal enjoyment or investment, such as a home, furniture, stocks and bonds, or an automobile, but does not include inventory, commercial accounts, and notes receivable, depreciable property, commercial property, copyrights, and short-term government obligations.
text: Key Takeaways Reserve assets are currencies or other assets, like gold, that can be readily transferable and are used to balance international transactions and payments.