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John's brother Bob bought a 3 acre house lot in 1985 for $15,000. Five years later, when the property was valued at $12,000, he gave

John's brother Bob bought a 3 acre house lot in 1985 for $15,000. Five years later, when the property was valued at $12,000, he gave the house lot to John. The property has slowly continued to lose value, and John just sold it for $10,000. What is John's tax basis for the property?

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