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How can I convert personal property into owner equity?

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Taxing Matters

Overtaxed Member
I had not understood capital gains clearly at all until then (before I thought it was just for stocks and people who kept up with Wall Street, but didn't know capital gains applied to pretty much every personal belonging).
Capital gains/losses are what you get from sale of any property whether that property is real property (real estate) or personal property (which is any property other than real property) with two important exceptions. The first is that inventory is not treated as capital gain income. The second is that the sale of some intangible property rights (e.g. patents, copyrights, trademarks, etc) are treated as royalty income rather than capital gains.



Imagine that...
I've been trying not to. It's terrifying: they've got these wide roads up on stilts with all these lanes of cars zooming by like they're in a race, while they text each other to see whose in the lead: hardly a place to water my horse, and the dog won't even drink the water.


Senior Member
It is not surprising that the attorney wants to meet you face-to-face before agreeing to represent you (e.g., have you sign a contract). It reassures me, and should reassure you, that the attorney you chose has asked for this meeting.

Drive carefully.

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