If you use a vehicle for certain driving purposes, you can deduct your costs based on your actual expenses or rely on an IRS-set mileage rate. The IRS has announced the standard mileage rates that can be used for deductible-driving costs in 2020 (Notice 2020-5). These rates apply for the use of a car, van, pickup, or panel truck:
If you use the standard mileage rate to figure your deduction for business use of a vehicle, you must reduce the basis of the vehicle by a cents-per-mile rate. For 2020, the rate is 27 cents per mile (up one cent from the 2019 rate).
Tangible depreciable property placed in service after 1980 and before 1987 and depreciable under ACRS.