Tangible personal property refers to physical items that can be seen, touched, and moved. These are personal belongings that are not tied to real estate or intangible assets like bank accounts or intellectual property.
Examples of Tangible Personal Property
Everyday Items:
Clothing
Furniture
Kitchenware
Valuables:
Jewelry
Collectibles (e.g., coins, stamps, art)
Antiques
Electronics:
Computers
Smartphones
Televisions
Vehicles:
Cars, motorcycles, boats, and bicycles.