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WASHINGTON — The Internal Revenue Service today issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
You can deduct on Schedule A (Form 1040) only the part of your medical and dental expenses that is more than 7.5% of your adjusted gross income (AGI). This publication also explains how to treat impairment-related work expenses and health insurance premiums if you are self-employed.
The standard mileage rates for 2023 are: Self-employed and business: 65.5 cents/mile. Charities: 14 cents/mile. Medical: 22 cents/mile. Moving (military only): 22 cents/mile. Find out when you can deduct vehicle mileage.
For 2024, the IRS' standard mileage rates are $0.67 per mile for business, $0.21 per mile for medical or moving, and $0.14 per mile for charity. If you drive for your business or plan to rack...
The IRS allows you to deduct mileage for medical care if the transportation costs are mainly for — and essential to — the medical care. When deducting mileage for medical care, you can use either of these methods: Standard mileage rate for a personal vehicle — $0.16 per mile.
The IRS medical mileage rate for 2024 is 21 cents per mile. This helps you deduct travel costs for medical appointments on your tax return. Learn more
Mileage can be deducted for volunteer work and medical care, but IRS restrictions limit the amount you can claim. The Tax Cuts and Jobs Act of 2017 eliminated the ability of employees to deduct...