The IRS issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning Jan. 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) are as follows:
- 57.5 cents per mile driven for business use, down one half of a cent from the rate for 2019,
- 17 cents per mile driven for medical or moving purposes, down three cents from the rate for 2019, and
- 14 cents per mile driven in service of charitable organizations.
More details about the new standard mileage rates are available at https://www.irs.gov/newsroom/irs-issues-standard-mileage-rates-for-2020.