"Anna Smith, a single taxpayer, purchased a piece of land on Hawaii Island for $3,200 as an investment back in 20X1. Earlier this year on January 14, 20X6, Anna Smith purchased $1,300 of stock as an investment. On June 5, 20X6, she donated the land and stock, with fair market values of $10,900 and $2,000 respectively, to her synagogue on Hawaii Island.

The formula should be {So}+{Pf}: Lower of Fair Market Value or adjusted basis for stock held less than one year + Fair Market Value of land