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Mileage Rates

Beginning on January 1, 2019, the standard mileage rates for the use of a vehicle is:

  • 58 cents per mile for business miles driven
  • 20 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

 

Beginning on January 1, 2020, the standard mileage rates for the use of a vehicle is:

  • 57.5 cents per mile for business miles driven. The depreciation portion of this rate is 27 cents per mile (up from 26 for 2019).
  • 17 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

Reminder – The standard mileage rate cannot be used for any vehicle where the taxpayer has:  a) claimed depreciation using a method other than straight-line for its estimated useful life, b) claimed a §179 deduction, c) claimed the additional first-year (aka “bonus”) depreciation, or d) used ACRS or MACRS.

 Notice 2020-05, Revenue Procedure 2019-46

 

For anyone needing to reference an earlier tax year, click the link below:

 https://www.irs.gov/tax-professionals/standard-mileage-rates