Question: Rahim is a 3 1 - year - old single taxpayer. On November 1 6 , 2 0 2 2 , he purchased five crypto

Rahim is a 31-year-old single taxpayer. On November 16,2022, he purchased five crypto coins for $3,000. He sold three of the coins for $1,800 on February 28,2023. He then sold the remaining two coins for $700 on August 31,2023. In early 2024, Rahim received a Form 1099-B reporting details about the transaction. Choose the response that correctly describes how Rahim should report this transaction on his tax return.
Long-term capital gain of $500.
Long-term capital loss of $500.

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