Debbie owns a truck costing $12,000 and used for personal activities. The truck has a $9,700 FMV when it is transferred to her business, which is operated as a sole proprietorship Requirements a. What is the basis of the truck for determining depreciation? b. What is Debbie's realized gain or loss if the truck is sold for $4,000 after claiming depreciation of $1,000? Requirement a. What is the basis of the truck for determining depreciation? The basis of the truck for determining depreciation is Requirement b. What is Debbie's realized gain or loss if the truck is sold for $4,000 after claiming depreciation of $1,000? Debbie will realize a S