Trevor restores antique cars and sells them for profit. this is an example of capital gains income.
What is capital gain income?
When a capital asset is sold, its value increases, and this is referred to as a capital gain.
A capital gain happens, to put it simply, when you sell an asset for more money than you purchased for it. Almost any kind of item you possess is a capital asset, whether it was bought for personal use or as an investment (such as a stock, bond, or piece of real estate) (like furniture or a boat).
When an asset is sold, capital gains are earned by deducting the purchase price from the sale price.
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