Adam Armstrong, age 60 and single, earned \(\$ 71,000\) during 2018 . He contributed \(\$ 9,000\) to the United church, paid \(\$ 16,000\) in federal income taxes, \(\$ 3,400\) in state income tax, and \$4,600 in mortgage interest charges. Adam also had the following transactions:

a. Sold for \(\$ 60,000\) stock that he had received as a gift which had an adjusted basis of \(\$ 20,000\) to the donor and a fair market value of \(\$ 50,000\) on the date of the gift and the taxable gift was \(\$ 35,000\). The donor had held the stock for two years and paid a gift tax of \(\$ 14,000\).

b. Exchanged land held for five years as an investment for an apartment building and \(\$ 25,000\) cash. On the date of exchange, the land had an adjusted basis of \(\$ 135,000\). The apartment building had a fair market value of \(\$ 335,000\).

c. An office building Adam owned was condemned by the state to make room for a state building. The building had an adjusted basis of \(\$ 70,000\) and a fair market value of \(\$ 172,000\). Adam received another building from the state and it had a fair market value of \(\$ 150,000\).

d. Adam sold his personal residence for \(\$ 145,000\). He incurred \(\$ 2,500\) in selling expenses. The residence had an adjusted basis of \(\$ 56,000\). He moved into an apartment.

Calculate Adam's lowest taxable income. Treat all income as ordinary income.