Question: On June 1 , 2 0 2 3 , Brady purchased an option to buy 1 , 0 0 0 shares of General, Inc. at
On June Brady purchased an option to buy shares of General, Inc. at $ per share. He purchased the option for $ It was to remain in effect for five months. The market experienced a decline during the latter part of the year, so Brady decided to let the option lapse as of December On his tax return, what should Brady report?
a A $ longterm capital loss.
b A $ shortterm capital loss.
c A $ loss.
d A $ ordinary loss.
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