Question 54 of 75. Sandra purchased a van for $28,500 to use exclusively in her delivery business. Three months later, she sold it for $23.500 What is the amount of gain or loss, and where does Sandra report the sale? $5,000 gain, Form 4797, Part I. $5,000 loss, Form 4797, Part I $5,000 loss, Form 4797, Part II $5,000 loss, Schedule D. Mark for follow up Question 58 of 75. Under the vacation home rules, rental property expenses are deducted in a specific order. Which expenses are deducted FIRST? Depreciation and other basis adjustments. Direct expenses related to renting and operating the property, such as advertising, platform fees, and legal fees Expenses related to operating and maintaining the property, such as utilities The rental portion of qualified home mortgage interest, real estate taxes, and casualty losses Mark for follow up