Exercise 8-5 (Algorithmic) (LO. 4)

Elliott has the following capital gain and loss transactions for 2021.

a. Short-term capital gain $9,800

b. Short-term capital loss (23,520)

c. Long-term capital gain (28%) 78,400

d. Long-term capital gain (25%) 31,360

e. Long-term capital gain (15%) 39,200

f. Long-term capital loss (28%) (31,360)

g. Long-term capital loss (15%) (58,800)

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 gain of $________________