Which of the following taxpayers can take advantage of the special rules that apply to subdivided property?

Question:

Which of the following taxpayers can take advantage of the special rules that apply to subdivided property?

a. A taxpayer who is a real estate dealer.

b. A taxpayer who puts in roads, sewer and electrical prior to selling his first lot.

c. A taxpayer who inherited the property from his father two months prior to selling his first lot.

d. A taxpayer who purchased the property four years ago.

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