Yes. $105,000 original cost basis divided by 4 parcels = $26,250 cost basis for each parcel. If you sell a parcel for $117,000, you will have a capital gain of about $90,000. With other income of $50,000; about $29,000 of the capital gain will not be taxed (taxed at 0%) and the other $61,000 will be tax at 15%. If you sell the 2nd lot in the same year, the whole $90K, on the 2nd lot, will be taxed at 15%.
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