If you use your vehicle for business driving, instead of deducting actual costs, you can compute the deduction using an IRS standard mileage rate. For 2020, the rate is 57.5¢ per mile (down a half a cent from 2019). This rate can also be used to reimburse employees under an accountable plan where reimbursements are not subject to employment taxes. When using the IRS mileage rate, you must reduce the basis of the vehicle by 27¢ per mile (a penny more than in 2019).
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