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Question 13 of 75. In January 2015, Sue purchased and placed into service a $20,000 piece of equipment for exclusive use in her busines. Since then, she claimed a $6,000 Section 179 deduction and $6,654 MACRS depreciation. She sold the equipment in November 2017 for $7,000. What is the amount and type of gain or loss, and where on Form 4797 does Sue report the sale? O $346 $1231 loss, Part I O $346 $1231 gain, Part. O $346 $1245 loss, Part IIl $346 $1245 gain, Part II. Mark for follow up
Question 13 of 75 In January 2015, Sue purchased and placed into service a $20,000 piece of equipment for exclusive use in her business. Since then, she claimed a $6,000 Section 179 deduction and $6,654 MACRS depreciation. She sold the equipment in November 2017 for $7,000. What is the amount and type of gain or loss, and where on Form 4797 does Sue report the sale? O $346 $1231 loss, Part i. O $346 $1231 gain, PartI. O $346 $1245 loss, Part Ill. $346 $1245 gain, Par III.
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