Question: The IRC Section 1237 rules allow qualifying taxpayers to do which of the following? a. Avoid ordinary income treatment for gains from sales of subdivided

The IRC Section 1237 rules allow qualifying taxpayers to do which of the following? a. Avoid ordinary income treatment for gains from sales of subdivided lots, b. Treat subdivided lots as inventory, which allows sellers to treat gains as long term gains., c. Be treated as real estate professionals, and thereby qualify for more favorable treatment under the passive loss rules., d. Avoid all federal income tax on sales of subdivided lots.

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