Elaine Case (single with no dependents) has the following transactions in 2017:

AGI (exclusive of capital gains and losses) .....................    $240,000
Long-term capital gain .....................................................        22,000
Long-term capital loss .....................................................         (8,000)
Short-term capital gain ....................................................        19,000
Short-term capital loss .....................................................      (23,000)

What is Elaine’s net capital gain or loss? Draft a letter to Elaine describing how the net capital gain or loss will be treated on her tax return. Assume that Elaine’s income from other sources puts her in the 39.6% bracket. Elaine’s address is 300 Ireland Avenue, Shepherdstown, WV 25443.