Kaitlyn Shaya owns a number of plots of land in Medina County, Ohio. She acquired some of the land through inheritance and some through purchase over the last 25 years. Every four years or so, beginning in 2021 , Kaitlyn plans to subdivide a plot into lots. She will then have water, sewer, natural gas and electricity hookups completed in each lot, then pave new streets. You have been Kaitlyn's accountant for many years. She comes to you in July, 2020 for some advice. She has been told that she can sell the lots and report any gain as long-term capital gain. She wants to know whether her plans for some of the improvements will change the tax treatment in any way. Your research should include any general rules and then any recommendations that could alter the conclusion