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Mario purchased a van for $20,000 to use exclusively in his delivery business. He sold it four months later in the same year for $16,000.
Mario purchased a van for $20,000 to use exclusively in his delivery business. He sold it four months later in the same year for $16,000. What is the amount of gain or loss, and where on form 4797 does Mario report the sale? $4,000 gain; Part I. $4,000 gain: Part II. $4,000 loss; Part II. $4,000 loss; Part
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