Standard Mileage Deduction 2024

Standard Mileage Deduction 2024. The irs increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 67 cents per mile driven, up 1.5. For 2023, the standard mileage rate for the cost of operating your car for business use is 65.5 cents ($0.655) per mile.

The standard mileage rate is 21 cents per mile for use of an automobile: For 2024, the irs’ standard mileage rates are $0.67 per mile for business, $0.21 per mile for medical or moving, and $0.14 per mile.