Unless a treaty, etc., would apply, it would be included in your gross total income. However, the gain as you described it should be taxed as long-term capital gains...which are generally taxed at a lower rate than your ordinary income.
As I mentioned before, there may or may not be a treaty involved between the U.S. and whatever country the land is located in. If there is a treaty, the provisions contained in the treaty would applicable.
**Disclaimer: Effort has been made to offer correct information; but due to the discussion forum limitations, the poster disclaims any legal responsibility for the accuracy of the poster's response**
