IRS Issues Standard Mileage Rates for 2024

December 15, 2023
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The IRS has released (Notice 2024-08) the 2024 standard mileage rates. The rates are used to determine the deductible costs of using a vehicle for business, charitable, medical, or moving purposes. The new rates are effective January 1, 2024. 


The new rates are as follows, compared to the 2023 rates: 

   2024 2023
 Business Use  67 cents per mile  65.5 cents per mile
 Medical and Moving Purposes  21 cents per mile  22 cents per mile
 Charitable Use  14 cents per mile  14 cents per mile

For taxpayers who use a vehicle for business purposes, the amount of the standard mileage treated as depreciation is 30 cents per mile. This amount was 28 cents per mile in 2023. For those who use a fixed and variable rate plan, the maximum standard automobile cost that may be used in computing the allowance is $62,000. This amount was $60,800 in 2023. 


Related: The Ins and Outs of Mileage Reimbursement 

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