Capital Gains and Losses (LO. 5) Rikki has the following capital gains and losses for the current year: Short-term capital gain $1,600 Long-term capital gain 11,900 Long-term capital loss 2,400 Collectibles gain 7,500 Collectibles loss 1,400 Assume that Rikki is in the 32% marginal tax rate bracket and Rikki's AGI is less than $200,000. Refer to the Capital gains and losses (individuals) table to answer the following question. Due to the effect of the capital gains and losses, Rikki's taxable income is increased by $ and her tax liability is increased by $ Treatment of Capital Gains and Losses (Individuals) Holding Period Tax Treatment Capital Gain/Loss Position Short-term capital gain Adjusted net capital gain Unrecaptured Section 1250 gain Net collectibles gain Gain on qualified small business stock 12 months or less More than 12 months More than 12 months More than 12 months More than 5 years Short-term capital loss Ordinary income Based on the breakpoints for 15% and 20%. Taxed at a maximum rate of 25% Taxed at a maximum rate of 28% 50% of gain is excluded. Remaining gain is taxed at a maximum rate of 28% Deductible loss for AGI; limited to $3,000 per year with indefinite carryforward of excess loss to future year's netting Deductible loss for AGI; limited to $3,000 per year with indefinite carryforward of excess loss to future year's netting Any short-term losses are applied against the $3,000 limit before long-term losses are deducted 12 months or less Long-term capital loss More than 12 months