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What should brandon report

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Question - On July 1, 2014, Brandon purchased an option to buy 1,000 shares of General, Inc. at $30 per share. He purchased the option for $2,000. It was to remain in effect for five months. The market experienced a decline during the latter part of the year, so Brandon decided to let the option lapse as of December 1, 2014. On his 2014 tax return, what should Brandon report?

A $2,000 long-term capital loss.

A $2,000 short-term capital loss.

A $2,000 § 1231 loss.

A $2,000 ordinary loss.

None of the above.

Reference no: EM132085774

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