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Do raw land sales qualify?

If it is sale of land as defined under IRS Sections 1221 or 1231 or greater than three single-family unimproved lots to a single buyer, it will qualify.
  • Section 1221 - This asset is a property held primarily for long-term appreciation in value versus current income, such as a semi-rural site purchased and held for future appreciation as a community expands.
  • Section 1231 - This asset is a property held primarily to produce income for use in a trade or business, such as a retail store, office building, apartment building, or warehouse held as a rental property or a user property.