#3 Automobile Mileage Deductions

fotolia_34940830The mileage deductions set forth by the Internal Revenue Service are published each year.  The 2014 rates are shown below.  There is a rate for:

  • Business                 56    cents per mile
  • Medical Trips          23.5 cents per mile
  • Charity                    14    cents per mile


In 2015 the rates are:

Business                      57.5 cents per mile

Medical Trips               23    cents per mile

Charity                         14    cents per mile


A taxpayer may not use the business standard mileage rate for a vehicle after claiming accelerated depreciation, including the Section 179 expense deduction, on that vehicle. Likewise, the standard rate is not available to fleet owners (more than four vehicles used simultaneously). Details on these and other special rules are in Revenue Procedure 2010-51, the instructions to Form 1040 and various online IRS publications including Publication 17, Your Federal Income Tax.