The IRS released the optional standard mileage rates for 2021. Most taxpayers may use these rates to compute deductible costs of operating vehicles for:
- medical, and
- charitable purposes.
The standard mileage rates for 2021 are:
- 56 cents per mile for business uses;
- 16 cents per mile for medical uses; and
- 14 cents per mile for charitable uses.
Taxpayers may use these rates, instead of their actual expenses, to calculate their deductions for business, medical or charitable use of their own vehicles.