Discussion Post
It is essential to understand whether property is a section 1221 Capital Asset or if it is an Ordinary Asset. Explain what a capital asset is, and provide examples of both capital assets and ordinary types of assets. Why do you think that we have separate reporting of capital gains and capital losses?
The response must include a reference list. One-inch margins, double-space, Using Times New Roman 12 pnt font and APA style of writing and citations.