Oregon Tax Consultants Practice Exam

Which of the following is NOT a personal use property?

1. Primary residence

2. Second home

3. Business vehicle

4. Personal vehicle

The correct answer is: Business vehicle

A business vehicle is classified as property used primarily for the operation and management of a business, which distinguishes it from personal use property. Personal use properties are assets that individuals own for their enjoyment or lifestyle, rather than for generating income or conducting business. In contrast, a primary residence, second home, and personal vehicle are all examples of personal use properties because they are typically used for personal enjoyment or living purposes rather than for business activities. The primary residence is the main home where an individual lives, a second home is an additional property for personal use, and a personal vehicle is generally used for commuting and personal errands. Thus, the only option that does not fall under personal use property is the business vehicle, making it the correct choice in this context.