True/False
Real property subdivided for resale into lots,even if no substantial physical improvements have been made to the property,always causes the gain from sale of the lots to be treated as ordinary income.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q8: An accrual basis taxpayer accepts a note
Q9: The tax law requires that capital gains
Q18: A personal use property casualty loss is
Q42: Involuntary conversion gains may be deferred if
Q82: Blue Company signs a 12-year franchise agreement
Q85: Ryan has the following capital gains and
Q88: On January 10,2010,Wally sold an option for
Q89: Seamus had $16,000 of net short-term capital
Q90: Section 1231 applies to the sale or
Q121: To compute the holding period, start counting