IRS Standard Mileage Rates for 2012

If you use your car, truck, or van for certain purposes other than personal reasons, you can deduct the related costs or use an IRS-set mileage rate. The mileage rate for 2012 is:

• 55.5 cents per mile for business driving.
• 23 cents per mile for medical or moving purposes.
• 14 cents per mile for charitable purposes.

Important: Using the standard mileage rate means you don’t have to keep receipts to substantiate driving-related costs. However, you still must keep records to substantiate the mileage for each purpose and other information required by the tax law.

For each mile you deduct for business driving using the standard mileage rate, you must reduce the basis in your vehicle by a “deemed depreciation” rate. For 2012, this rate is 23 cents per mile.

Source: IR-2011-116, 12/9/11