Maria owns 20 acres of vacant ground within the cityr limits of Lubbock. Maria acquired the land as a gift from her parents on July 1, 200?. The land was valued at $4,000 per acre on the date of the gift, Her parents purchased the land in 1091 at a price of $500 per acre. Maria has held this land as an investment since she received it. On September 15, 2014 Maria exchanged this land with a development company.Ir that plans to develop the 20 acres [Maria and the development company are not related parties], In exchange for the 20 acres, Maria received a condominium in Lubbock that was valued at $160,000. The building was valued at $120,000 and the land was valued at $40,000. The condominium is located at 990 E1 Mar, Unit A, Lubbock Texas T0401