Garth is a shareholder in a calendar-year S corporation. At the beginning of 2020, his stock basis is $ 20,000, his share of the AAA is $ 4,000, and his share of corporate AEP is $ 12,000. He receives a $17,000 distribution, and his share of S corporation items includes a $ 12,000 long-term capital gain and a $( 7,000) operating loss (i.e. a non-separately stated loss)

Determine income, gain, and/or loss that Garth will show on his 2020 1040 return