Problem associated to capital loss

Reference no: EM13150511

On July 10, 2009, Bruce purchased an option to buy 1,000 shares of Omni, 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 Bruce decided to let the option lapse as of December 1, 2009. On his 2009 tax return, what should Bruce report?

a. A $2,000 long-term capital loss.

b. A $2,000 short-term capital loss.

c. A $2,000 § 1231 loss.

d. A $2,000 ordinary loss.

e. None of the above.

Reference no: EM13150511

Questions Cloud

Find estimate of percentage of tires that will exceed value : Use the Excel COUNTIF function to determine the number of tires that last longer than 40,000 miles. What is your estimate of the percentage of tires that will exceed 40,000 miles?

Annual demand and supply : Annual demand and supply for the Entronics company is given by:QD = 5,000 + 0.5 I + 0.2 A - 100P, and QS = -5000 + 100P

Literary present or passed tense : When writing the plot for a movie in a paper, does one use literary present or passed tense? In my case, I am writing an essay about the 1978 and 1998 versions of Les Miserables:

Which balloon will deflate faster : Isra fills two identical balloons at identical temperatures. She fills one with O2 gas and the other with O3 gas. Which balloon will deflate faster? Why?

Problem associated to capital loss : On July 10, 2009, Bruce purchased an option to buy 1,000 shares of Omni, 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..

Would boeing margin likely rise or fall if the yen : Would Boeing's margin likely rise or fall if the yen then depreciated and competitor prices were unchanged? Why?

Subliminal messages : Im trying to find some resource for my essay that deals with subliminal messages. Since this is something that can't really be proven i'm just trying to find stats on something like the % of advertisments that have sumbliminal messages in them.

Why does dna use thymine not uracil : Why does DNA use Thymine not Uracil? Please answer this question in regards to possible threats of DNA mutation or damage. That is, how does the quality of DNA having Thymine provide it with an adequate defense against DNA damage and mutation.

How many moles of of aluminum chloride could be produced : if you had excess chlorine how many moles of of aluminum chloride could be produced from 17 grams of aluminum

User Account

All Pages