Review the following scenario. Use the information provided to answer questions about the taxpayer's 2022 return.

Xavier Brown (32) is filing as a single taxpayer. During the year, he was unhappy with the performance of an investment he had made in ALX Corporation in 2020. Xavier sold his shares on May 4, 2022, for fear the stock would continue its downward trend. Information relating to the sale was reported to him on Form 1099-B.

Xavier had no other capital gains or losses during the year. He also received a Form 1099-INT reporting $919 of U.S. Savings Bond interest in box 3. His only other income was from wages.

Question: Xavier received the following Form 1099-B reporting the sale of 100 shares of stock. How should he report the sale of this property when he prepares his tax return? Short-term capital loss of $1,660.

Long-term capital loss of $1,660.

Short-term capital gain of $1,660.

Long-term capital gain of $1,660.

Question: On his Form OR-40, Xavier will report the savings bond interest as a(n) _________ .

Subtraction on Schedule OR-ASC, Section B.

Standard credit on line 25.

Itemized deduction on line 16.

Addition on line 8.