Problem 8-26 (LO. 1, 3, 4) Liana Amiri (single with no dependents) has the following transactions in 2022: AGI (exclusive of capital gains and losses) Long-term capital gain Long-term capital loss Short-term capital gain Short-term capital loss a. What is Liana's net capital gain or loss? Llana has a net long-term capital $240,000 22,000 (8,000) 19,000 (23,000) of $ and a net short-term capital of $ of As a result, she has an overall net capital b. Complete the letter to Liana describing how the net capital gain or loss will be treated on her tax return. Assume that Liana's income from other sources puts her in the 37% bracket. If required, round your answer to one decimal place. SWFT, LLP 5191 Natorp Boulevard Mason, OH 45040 March 17, 2023 Ms. Liana Amiri 300 Ireland Avenue Shepherdstown, WV 25443 Dear Ms. Amiri: The purpose of this letter is to discuss the result of your stock transactions for 2022. You had $ capital gains and $ of losses from the $ capital gain. of of net of capital losses. Subtracting the results in a $ net The $ net capital gain and the details of your stock transactions be reported on the Schedule D attached to your Form 1040. The $ for the alternative tax on capital gains and will be taxed at a net capital % rate, rather than at your marginal tax rate of 37%. Thank you for the opportunity to be of service. Please call me if you have additional questions. Sincerely, Michelle Brown, CPA