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This notice provides the optional 2020 standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes.
Standard mileage rate. For 2020, the stand-ard mileage rate for the cost of operating your car for business use is 57.5 cents (0.575) per mile. Car expenses and use of the standard mileage rate are explained in chapter 4. Depreciation limits on cars, trucks, and vans. The additional first-year limit on depreci-
This notice provides the optional 2019 standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes.
[PDF 72 KB] provides that beginning January 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: • 57.5 cents per mile for business miles driven (reduced from 58 cents per mile for 2019) • 17 cents per mile driven for medical or moving purposes (reduced from 20 cents per mile for 2019)
4 kwi 2024 · Qualifying taxpayers can use standard IRS mileage rates or calculate the itemized costs for their qualified vehicle use to claim deductions on their tax returns. An IRS mileage reimbursement form is required to track and calculate mileage expenses for tax purposes.
9 sty 2020 · The IRS has announced the 2020 standard mileage rates for business, medical, and other uses of an automobile, and the 2020 vehicle values that limit the application of certain rules for valuing an automobile’s use.
The IRS today issued an advance version of Notice 2019-02 providing the standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical or moving purposes in 2019.
