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.