On October 23,2017,McIntyre Sells 700 Shares of Stock at $26

question 46

Multiple Choice

On October 23,2017,McIntyre sells 700 shares of stock at $26 per share.McIntyre acquired the stock on June 1,2016,when he exercised his option to purchase the shares through his company's incentive stock option plan.The exercise price was $12 per share and the fair market value of the stock at the date of exercise was $16 per share.For 2017,McIntyre must report
​
Ordinary Capital
Income Gain

• A)$-0- $7,000
• B)$-0- $9,800
• C)$9,800 $-0-
• D)$2,800 $7,000

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