Elliott has the following capital gain and loss transactions for 2021. a. Short-term capital gain $3,200 b. Short-term capital loss (7,680) C. Long-term capital gain (28%) 25,600 d. Long-term capital gain (25%) 10,240 e. Long-term capital gain (15%) 12,800 f. Long-term capital loss (28%) (10,240) 9. Long-term capital loss (15%) (19,200) After the capital gain and loss netting process, what is the amount and character of Elliott's gain or loss? Elliott has an overall net long-term capital loss Feedback Check My Work X of $ 19,200 X. All taxpayers net their capital gains and losses. Short-term gains and losses (if any) are netted against one another, and long-te and losses (if any) are netted against one another. The results will be net short-term gain or loss and net long-term gain or loss two net positions are of opposite sign (one is a gain and one is a loss), they are netted against each other.