Steve owns vacant land he is holding for investment. Two years ago he (grantor) granted an option to Cameron to purchase the land. Cameron paid $30,000 for the option but failed to exercise the option. The option expired unexercised in 2021. Determine the treatment of the gain or loss on the grantor return in 2021.

Select one of the choices and enter to the box:

1231 gain, 1231 loss, 1245 gain, 1245 loss, 1250 gain, 1250 loss, ordinary gain, ordinary loss, short term capital loss, short term capital gain, long term capital gain, long term capital loss)