Ben owns 60% of Hair LLC. Ben sells land he has been holding as an investment to Hair for $100,000. Ben's basis in the land is $70,000. Hair will subdivide the land, build houses on the lots, and then sell the homes and lots to home buyers. The character of Ben's $30,000 gain on the sale is: Ben owns 60% of Hair LLC. Ben sells land he has been holding as an investment to Hair for $100,000. Ben's basis in the land is $70,000. Hair will subdivide the land, build houses on the lots, and then sell the homes and lots to home buyers. The character of Ben's $30,000 gain on the sale is: 

A. Ordinary 

B. Capital

C. Section 1231

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