An Individual Taxpayer Who Is Not a Dealer in Real

question 82

Multiple Choice

An individual taxpayer who is not a dealer in real estate plans to subdivide a parcel of land into four lots and sell them at a substantial gain.The parcel of land had been held six years.In order to qualfiy for capital gain treatment,the individual must satisfy all of the requirements except

• A)the individual must not hold any other real property primarily for sale in the ordinary course of business.
• B)no substantial improvements can be made while holding the lots if the improvements substantially increase the value of the lots.
• C)the parcel of land (or any part of it)cannot have been held primarily for sale to customers in the individual's business.
• D)All of the above criteria must be satisfied to allow capital gain treatment.

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Definitions:

Arterial Blood Pressure

The pressure within arteries, which is vital for circulating blood throughout the body.

Sphygmomanometer

A sphygmomanometer is a device used to measure blood pressure, typically involving a cuff that is placed around the arm.

Electrocardiograph

A medical device used to record the electrical activity of the heart over a period of time.

Ischemia

A condition of reduced blood flow to tissues, causing a shortage of oxygen that is needed for cellular metabolism.