Elrod Posted December 15, 2023 Report Share Posted December 15, 2023 WASHINGTON — The Internal Revenue Service today 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 Jan. 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, a decrease of 1 cent from 2023. 14 cents per mile driven in service of charitable organizations; the rate is set by statute and remains unchanged from 2023. https://www.irs.gov/newsroom/irs-issues-standard-mileage-rates-for-2024-mileage-rate-increases-to-67-cents-a-mile-up-1-point-5-cents-from-2023 2 2 Quote Link to comment Share on other sites More sharing options...
Corduroy Frog Posted January 5 Report Share Posted January 5 The standard mileage rate includes a portion attributable to depreciation. Does the link include that information? Never mind, I did find it in the depths of the verbiage. 28 cents in 2023 and 30 cents in 2024. 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.