Elaine Case (single with no dependents) has the following transactions in 2017: $240,000 22,000 (8,000) 19,000 (23,000) AGI (exclusive of capital gains and losses) Long-term capital gain Long-term capital loss Short-term capital gain Short-term capital loss a. Elaine has a net long-term capital gain of $ 22,000 | and a net short-term capital gain of As a result, she has an overall net capital of b. Complete the letter to Elaine describing how the net capital gain or loss will be treated on her tax return. Assume Elaine's income from other sources puts her in the 39.6% bracket. If required, round your answer to one decimal place. Maloney, Hoffman, Raabe, & Young, CPAs 5191 Natorp Boulevard Mason, OH 45040