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Income Tax Planning
Chapter 11: The Taxation of Capital Assets/ASSET CATEGORIZATION
Warren Academy Course SyllabusSyllabus Slides
Chapter Study Session

Chapter 11: The Taxation of Capital Assets

ASSET CATEGORIZATION

01.Core Concepts

• All assets are capital assets except: • Accounts receivable • Creative works in hands of the creator • Inventory • Depreciable real or personal property held for use in a trade or business or for the production of income, held long-term Ordinary Income Assets Section 1231 Assets