Nora purchased a new automobile on July 20,2015,for $29,000.The car was used 60% for business and 40% for personal use.In 2016,the car was used 30% for business and 70% for personal use.Nora elects not to take additional first-year depreciation.Determine the cost recovery recapture and the cost recovery deduction for 2016.

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The Answer of Nora purchased a new automobile on July 20,2015,for $29,000.The car was used 60% for business and 40% for personal use.In 2016,the car was used 30% for business and 70% for personal use.Nora elects not to take additional first-year depreciation.Determine the cost recovery recapture and the cost recovery deduction for 2016.

Nora Purchased a New Automobile on July 20,2015,for $29,000