Mileage Rate Calculator 2020

2020 IRS Mileage Rate Calculator

Business (57.5 cents/mile) Medical or Moving (17 cents/mile) Charitable Organization (14 cents/mile)

Your Estimated 2020 Deduction:

Understanding the 2020 IRS Mileage Rates

If you used your personal vehicle for business, medical, or charitable purposes during the 2020 tax year, you may be entitled to a tax deduction. The Internal Revenue Service (IRS) sets standard mileage rates annually based on an analysis of the costs of operating an automobile.

Official 2020 Standard Mileage Rates

For the 2020 tax year (filing in 2021), the standard rates were as follows:

• Business Miles: 57.5 cents per mile driven.
• Medical or Moving Miles: 17 cents per mile driven.
• Charitable Miles: 14 cents per mile driven.

How to Use the 2020 Mileage Rate Calculator

To calculate your potential tax deduction or reimbursement amount, follow these steps:

1. Enter the total number of miles driven specifically for the qualifying purpose.
2. Select the category of the trip (Business, Medical/Moving, or Charity).
3. Review the "Your Estimated 2020 Deduction" output to see the dollar value of your travel.

Calculation Examples

Example 1 (Business): If you drove 1,000 miles for business meetings in 2020, your deduction would be 1,000 miles × $0.575 = $575.00.

Example 2 (Charity): If you drove 500 miles for a registered 501(c)(3) nonprofit, your deduction would be 500 miles × $0.14 = $70.00.

Important Record-Keeping Requirements

The IRS requires detailed documentation to support mileage claims. This includes a written log containing the date of the trip, the destination, the business/charitable purpose, and the odometer readings (start and finish). Ensure you keep these records for at least three years after filing your tax return.

function calculateMileage() { var miles = document.getElementById("milesDriven").value; var type = document.getElementById("mileageType").value; var rate = 0; var rateLabel = ""; if (miles === "" || miles <= 0) { alert("Please enter a valid number of miles."); return; } var numMiles = parseFloat(miles); if (type === "business") { rate = 0.575; rateLabel = "57.5 cents per mile"; } else if (type === "medical") { rate = 0.17; rateLabel = "17 cents per mile"; } else if (type === "charity") { rate = 0.14; rateLabel = "14 cents per mile"; } var totalDeduction = numMiles * rate; var resultDiv = document.getElementById("mileageResult"); var amountP = document.getElementById("finalAmount"); var breakdownP = document.getElementById("breakdownText"); amountP.innerText = "$" + totalDeduction.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); breakdownP.innerText = "Based on " + numMiles.toLocaleString() + " miles at the 2020 " + type + " rate of " + rateLabel + "."; resultDiv.style.display = "block"; resultDiv.scrollIntoView({ behavior: 'smooth', block: 'nearest' }); }