I don't have a dog in this fight, but...

[Lamplighter]

Originally Posted by classicman

Actually they are the same thing.
Almost everything you own and use for personal or investment purposes is a capital asset.
Including your home, household furnishings, stocks and bonds even your personal savings account.

Classic, where do you find this interpretation ?
It runs counter to what I understand.

I agree about your sale of your home being a capital gain
- after personal exclusion(s), cost of improvements and any losses.

But I believe:
... household furnishings are personal property
... stocks and bonds (gains and losses) are taxed as capital gains
... your personal savings account is taxed as ordinary income

Some, but not all, states do have personal property taxes on things like mobile home, boats, RV's etc.