The following facts apply to Collins, an individual: In February of the current year, Hodge, who had owed a $5,000 personal debt to Collins for the past three years, declared bankruptcy. Collins sold land held for investment for a $10,000 gain. The land had been purchased by Collins five years prior.

In July of the current year, Collins received shares of stock as a gift from Bellamy. The stock was worth more than Bellamy paid for it when it was gifted to Collins. Bellamy had purchased the shares in January of the current year. In November, Collins sold the stock for a gain of $3,000. Considering only the above facts, what will Collins report on the current-year tax return?

a. $2,000 long-term capital gain

b. $8,000 long-term capital gain

c. $10,000 ordinary income and $2,000 short-term capital loss

d. $10,000 long-term capital gain and $3,000 short-term capital gain