T receives an acre of land as a gift. At the time of the gift the land had a FMV of $8,000 and the donors basis was $10,000. No events occurred to increase or decrease your basis. What is the gain if T sells the land for $12,000? What is T sells the land for $7,000?

Uncle gifts property to T. He has no idea his basis in the property. What basis should be used?