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Felecia inherited unused farmland from her grandmother. Felecia subdivided the property, made minimal improvements to it, and sold the resulting 23 lots during one tax

Felecia inherited unused farmland from her grandmother. Felecia subdivided the property, made minimal improvements to it, and sold the resulting 23 lots during one tax year. Is any portion of her gain on the disposition eligible for capital gain treatment? NEED TO CITE A SOURCE, PLEASE!

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