Which of the following can be classified as a noncapital asset?

A storage warehouse used by a self-employed individual is considered a noncapital asset because it is classified as an ordinary asset used in the course of business operations. Noncapital assets, also known as ordinary assets, are typically those that are not held for investment purposes or do not produce capital gains. Instead, they are used to generate business income and are subject to ordinary income tax upon sale.

In contrast, other options like a vacation home, cryptocurrency, and a boat can generally be classified as capital assets since they are typically held for personal use or investment purposes. Capital assets are those properties held for investment or personal enjoyment, meaning any gain or loss from their sale is typically treated differently for tax purposes. For example, a vacation home is generally considered a capital asset because it serves personal enjoyment, and profits from selling it could be taxed as capital gains. Similarly, cryptocurrency is often treated as a capital asset since it is bought and sold for investment purposes. A boat could also be viewed as a capital asset unless it is specifically used in a trade or business regularly, which is not usually the case.

In summary, a storage warehouse directly supports business activities and is categorized as a noncapital asset, while the other listed items do not primarily serve a business function