Sue purchased a van for $18000 exclusively for business. She sold it 4 months later for...

Sue purchased a van for $18000 exclusively for business. She sold it 4 months later for $12500. What is the amount of capital loss, and where on Form 4797 does Sue report the sale?

$3700 loss, Part I

$5500 gain, Part II

$5500 loss, Part II

$5500 loss, Part I

Expert Solution

jeff jeffy answered 2 years ago

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