Capital assets, for corporations and business entities, are assets that have a useful life longer than one year and are not held for sale in the ordinary course of business.
The IRS considers almost everything you own and use for personal purposes, pleasure, or investment to be a capital asset. These include items such as stocks and bonds, your primary residence, household furnishings, automobiles used for pleasure or commuting, jewelry, and collections of stamps or coins.
There are specific assets that are specifically excluded from the IRS definition of capital assets (aka noncapital assets). These include property held for sale in the normal course of business, money received or about to be received from the sale of that property, depreciable personal property or real property used for business (such as rental property), protected creative works (such as copyrights on a book), and government publications purchased or received for free from the government.
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Hypothetical example(s) are for illustrative purposes only and are not intended to represent the past or future performance of any specific investment.
Investing in alternative assets involves higher risks than traditional investments and is suitable only for sophisticated investors. Alternative investments are often sold by prospectus that discloses all risks, fees, and expenses. They are not tax efficient and an investor should consult with his/her tax advisor prior to investing. Alternative investments have higher fees than traditional investments and they may also be highly leveraged and engage in speculative investment techniques, which can magnify the potential for investment loss or gain and should not be deemed a complete investment program. The value of the investment may fall as well as rise and investors may get back less than they invested.
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