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IRS issues standard mileage rates for 2024 to 67 cents a mile

19 Dec

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The Internal Revenue Service (IRS) issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.

Beginning on January 1, 2024, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will be:

  • 67 cents per mile driven for business use (up 1.5 cents from 2023).
  • 21 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces (decrease of 1 cent from 2023).
  • 14 cents per mile driven in service of charitable organizations (remains unchanged from 2023).

These rates apply to electric and hybrid-electric automobiles as well as gasoline and diesel-powered vehicles.

IRS Official Press Release

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