subdivide

The purchase agreement provided that to facilitate financing and development, the taxpayers could elect before settlement to subdivide the residential structure plus approximately three acres from the balance of the property and take ownership of the property as two separate parcels.

Clients who subdivide land or develop land as condominium units, and then sell the subdivided and developed land, normally have their entire gain taxed at high ordinary income tax rates, since the client is classified as a "dealer" selling "inventory" in the form of subdivided lots or condominiums.

Upon the subsequent sale of the remaining property, the portion that the taxpayer did not subdivide produced capital gain.

After living there for several years he decided to subdivide some of the land and sell it off.

Subdivide and Conquer: A Modern Western, Bullfrog Films, (800) 543-3764

In scene after scene, Subdivide and Conquer attacks the root of western sprawl: the county commissions and local planning boards that made the ranchette the paragon of residential living and continue to join with business interests in sidling up to the trough of federal development subsidies.

The land surveyor, who works with Thika-based firm Real Geosurveys, says that people subdivide their land for various reasons: "A person might want to subdivide land because he'd like to leave different portions to each of his/her beneficiaries as inheritance.

ME did not subdivide, develop or improve any of its property.