Capital Assets For the most part, everything you own and use for personal purposesor investment is a capital asset. For exceptions, see NoncapitalAssets, later. The following items are examples of capital assets. Stocks and bonds. A home owned and occupied by you and your family. Timber grown on your home property or investment property,even if you make casual sales of the timber. Household furnishings. A car used for pleasure or commuting. Coin or stamp collections. Gems and jewelry. Gold, silver, and other metals. Personal-use property.Property held for personal use is a capital asset. Gainfrom a sale or exchange of that property is a capital gain.Loss from the sale or exchange of that property is notdeductible. You can deduct a loss relating to personal-use propertyonly if it results from a casualty or theft. Investment property.Investment property (such as stocks and bonds) is a capital asset,and a gain or loss from its sale or exchange is a capital gain orloss. This treatment does not apply to property used to produce rentalincome. See Business assets, later, under NoncapitalAssets. Release of restriction on land.Amounts you get for the release of a restrictive covenant in a deedto land are treated as proceeds from the sale of a capital asset.