Technically, -j40 Ohms is the value of the impedance for the capacitor. It's a complex number that is purely imaginary (no real part).
The reactance of that capacitor is 40 Ohms, a real number which is the magnitude of the impedance.
Reactance and impedance are thus closely related. Typically formulas that use reactance values take care to use signs or operators (+ or -) in the expressions to handle the relationship between them, and separate the reactive parts from the real resistance parts, combining them using vector style math (square root of sum of squares style addition). On the other hand, formulas that use complex impedance just use standard complex arithmetic and no special considerations are necessary; Just write your equations as though everything is "resistance" and do the complex arithmetic.
Personally I dislike the use of "X" variable names for what are impedances because it can lead to confusion. Conventionally X represents reactance and Z impedance, so I would have called the impedances ##Z_C## and ##Z_L## with the understanding that they are complex values.