On December 14, 2023, the Internal Revenue Service issued the 2024 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.
Beginning 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
- 21 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations
These rates apply to electric and hybrid-electric automobiles as well as gasoline and diesel powered vehicles.
For more information, read the IRS news release IR-2023-239.