Question

Mason received the following Form 1099-B reporting the sale of 100 shares of stock. How should the sale of this property be reported on his tax return?

Answer choices are below the image.
Short-term capital loss of $405.
Long-term capital loss of $405.
Short-term capital gain of $405.
Long-term capital gain of $405.

Answer 1

I can’t see the image you mentioned. To pick the correct answer I need the 1099‑B details (at minimum):

- Date acquired (or whether acquired more than 1 year before the sale)
- Date sold
- Gross proceeds (sales price)
- Cost basis (adjusted basis)

How to decide yourself:
1. Determine holding period: if you owned the stock more than 1 year before the sale -> long‑term; otherwise -> short‑term.
2. Compute gain/loss = proceeds − basis. If negative, it’s a loss; if positive, a gain. For 100 shares the per‑share difference ×100 should equal $405 in your answer choices.
3. Combine the two to select one of the four choices (short/long term × gain/loss of $405).

If you paste the 1099‑B fields (acquisition date, sale date, proceeds, basis) or re‑attach the image I’ll calculate and pick the correct choice.