Per Diem Rates from the U.S. General Services Administration
Search by city, state or ZIP code, or by clicking on the map. You can also use the new per diem tool to calculate trip allowances
Rates are set by fiscal year, effective October 1 each year. Find current rates in the continental United States ("CONUS Rates").
Is Rental Property a Capital Asset?
No.
Depreciable property used in your trade or business or used as rental property, even if the property is fully depreciated (or amortized), is not a capital asset.
Real property, such as a building, used in your trade or business or as rental property, even if the property is fully depreciated, is not a capital asset.
Section 197 intangibles are not capital assets either.
The IRS says, capital assets include almost everything you own and use for personal purposes, pleasure, or investment.
Examples of Capital Assets:
- Stocks, bonds, your coin and stamp collection.
- Your car and boat
- Household furnishings
- Your personal residence
Note: Losses on personal-use property, such as your car, are not deductible. However, should you be lucky enough to sell your car at a gain, the gain is a capital gain and is subject to taxes.