Source: N-2012-01 (A-2011-40); IR 2011 116 (IR-2010-119)
| 2012 Cents/Mile | Rate Type | 2011 Cents/Mile |
|---|---|---|
| 55.5 | Business Miles Driven* | 51.0 1st 6 months 55.5 last 6 months |
| 23.0 | Moving / Relocation Purposes | 19.0 1st 6 months 23.5 last 6 months |
| 23.0 | Medical Purposes | 19.0 1st 6 months 23.5 last 6 months |
| 14.0 | Charitable Services Rate | 14.0 |
*You cannot use the business standard mileage rate :
- for any vehicle used for hire or for more than four vehicles used simultaneously;
- for a vehicle after claiming a Section 179 deduction for that vehicle; or
- after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS).
Vehicle means any car, van, pickup or panel truck. You always have the option of calculating the actual costs of using your vehicle rather than using the standard mileage rates.
You do need a mileage log to support the number of miles your vehicle was driven for business purposes.
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