Show FEDERAL INCOME TAX ALLOWED ALLOWED ALLOWED MOTORISTS The automobIle has been recognized ed fd as a business i n necessity by the Federal goy gO government gOnt nt and many items oJ if f automobile op operating rating c expense pense may maybe maybe be deducted fro gross income on Federal il Income Ta Tai Returns accord accord- accord I i to the legal department of the Utah State Automobile association The following summary has been prepared as i a guide for those motorist motor motor- motorIst motor who must make Income Ta Tax Re- Re Returns Re Returns turns A AX All An sump sumia paid during the C year joor as registration fees s and licenses State Slate personal property ta taxes and municipal taxes ta I B D The Tha T total tot sum nail D a gas gas- gas as clini t there tax tai where here it is a ci consumers consumer's tax ta urd r the low law as ns in m Utah I C Interest on money borrowed ed for the purchase of an automobile used for either business or 01 pleasure II D ll 11 operating and m countenance maintenance ance m e expenses including depreciation usually figured fig at 20 per cent per annum on automobiles used for business 01 or a pro rata share of I such cuch expenses e representing business use where a passenger en er car is used chiefly more than 50 P per r cent for forI I bu business I E L Automobile insurance on oni ona i a used for business purposes pur pur- purposes I poses uncompensated ted losses sustain sustaIn- sustained ed cd by reason of damage eto to any auto auto- automobIle automobile automobile mobile pleasure or busm business sc use G Damages paid pani d fox for injuries mj to persona or destruction of property propel tJ tJI t pro Id provided the automobile at the time I of the accident vas v as being used us for I forI busm business H II s The amount of finance fin Ince charges on automobiles auto purchased hi h covers COers CO ers risk on the loan but bul not the tho th amount covering CO the premIum on finance on insurance to protect the s compan interest I 1 I Loss sustained where in n automobile auto Souto- suto I mobIle used for business purposes is trad traded d in m for a new car j i IMPORTANT I ITEMS ITE OF or L EXPENSE PESE WHICH 1 MAY Y NOT BE DE DEDUCTED A The amount paid for an ai auto luto automobile automobile mobIle used for either elther business or 01 pleasure this being a capital ey- ey ey p c and ami subject Ct to claim claun for where the automobile IS us used d for business purposes purpose B D Loss sustained where an automobIle automobile auto automobile mobile used for pleasure sure is traded tr dedin m in for a new nev car |