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I thought a capital asset was something you use for your trade or business (real estate, machinery) that has a useful life over 1 year. My suspicion is confirmed here: https://www.investopedia.com/terms/c/capitalasset.asp
However, I’m interpreting IRC 1221 that machinery/real estate is NOT a capital asset
Which is it?
AUD - 93
BEC - 87
FAR - 77
REG - 77------------
Corporate finance leaderBEC - 87 | 02/28
REG - 70 | 06/10, REMATCH | 08/30
AUD - XX | 09/10
FAR - XX | 12/10
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