12/19/2023

The IRS's Standard Mileage Rates for 2024

On December 14th, the Internal Revenue Service issued the 2024 optional standard mileage rates utilized in computing deductible expenses for operating automobiles for business, charitable, medical, or moving purposes.

New Standard Mileage Rates

Starting on 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, up 1.5 cents from 2023.
21 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces, a decrease of 1 cent from 2023.
14 cents per mile driven in service of charitable organizations; the rate is set by statute and remains unchanged from 2023.

These rates apply to electric and hybrid-electric automobiles as well as gasoline and diesel-powered vehicles.

To learn more about the new standard mileage rates view the IRS News Release.

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