Several years ago, I purchased land for $200,000 in cash. It has since gone up in value to $1,000,000. The property is next to the campus of a small college (a public charity), and the college would like to have the land. In order to benefit the college, I sell the land to the college for $500,000. How much of the original cost basis is attributable to the sale portion of the transaction for purposes of calculating the capital gain? $100,000 (50%) $200,000 (100%) $500,000 (50%) $1,000,000 (100%) $0 (0%)