2024 IRS Mileage Rate Calculator
Calculate your tax deduction or reimbursement based on official 2024 IRS standards.
Understanding the 2024 IRS Mileage Rates
For the 2024 tax year, the Internal Revenue Service (IRS) has increased the standard mileage rates to account for the rising costs of operating a vehicle. These rates are used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.
Official IRS Rates for 2024
| Purpose | Rate Per Mile (2024) | Rate Per Mile (2023) |
|---|---|---|
| Business | 67 cents ($0.67) | 65.5 cents ($0.655) |
| Medical or Moving | 21 cents ($0.21) | 22 cents ($0.22) |
| Charitable | 14 cents ($0.14) | 14 cents ($0.14) |
Who can use these rates?
The business mileage rate applies to self-employed individuals and employees who are reimbursed by their employers. It is important to note that since the Tax Cuts and Jobs Act, most employees cannot claim a miscellaneous itemized deduction for unreimbursed employee business expenses. However, active-duty members of the Armed Forces can still claim moving expenses if they are moving under military orders.
Calculation Example
If you drove 1,250 miles for business purposes in 2024, the calculation would be:
- Total Miles: 1,250
- 2024 Rate: $0.67
- Total Deduction: 1,250 × $0.67 = $837.50
Record-Keeping Requirements
To claim these deductions or receive reimbursement, you must keep a precise mileage log. The IRS requires you to document:
- The date of the trip
- The starting point and destination
- The business (or charitable/medical) purpose of the trip
- The total number of miles driven