Standard Mileage Rates for 2012

The 2012 standard mileage rates for use of an automobile are 55.5 cents per mile for business miles (the same rate in effect for the last half of 2011), 23 cents per mile for medical or moving purposes, and 14 cents per mile for rendering gratuitous services to a charitable organization.

A taxpayer may not use the business standard mileage rate for any vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or claiming a Section 179 deduction for that vehicle, or for more than four vehicles used simultaneously.

 

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