### Question
What is the definition of inventory assets?


### Answer
The definition of **inventory assets** is as follows in *26 U.S.C. § 1363*:

> stock in trade of the corporation, or other property of a kind which would properly be included in the inventory of the corporation if on hand at the close of the taxable year

#### Citation:
  - *26 U.S.C. § 1363*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter S-Tax Treatment of S Corporations and Their Shareholders > PART I-IN GENERAL**

