5. William Warren had the following gains and losses during 2020:

Personal casualty loss on property held five months and destroyed in a Presidentially declared disaster area (and after $100 reduction)	($ 4,000)
Personal casualty loss on property held 13 months and destroyed in a Presidentially declared disaster area	($ 8,000)
Section 1231 loss	($12,000)
Section 1231 gain (after considering depreciation recapture)	$14,000

Assuming William has no other income or loss items during 2020, what is his long-term capital gain or loss? (write out the netting steps)