6. | Question : | (TCO 11) On July 1, 2010, 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, 2010. On his 2010 tax return, what should Brandon report? |
|