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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

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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