During the year, Nicholas made the following dispositions of property:
- Sold publicly traded stock, which cost $2,000 and had been held for 2 years, for $3,000
- Sold land, which cost $20,000 and had been held for 9 months, to his brother for $16,000
How should Nicholas report these dispositions on his return?
A) $1,000 long-term capital gain
B) $3,000 long-term capital gain
C) $3,000 short-term capital gain
D) $3,000 ordinary loss