Standard Mileage Rate
If you use your car in your business, you can figure your deduction
for business use based on either your actual costs or the optional standard
mileage rate. For 1998, the optional standard mileage rate for the cost
of operating your car in your business is 32.5 cents a mile for all business
miles. The special rate for rural mail carriers is repealed. See Rural
mail carriers in chapter 1.
Rate extended to leased cars. You can
now use the standard mileage rate for a car you lease, as well as a car
you own. Previously, you could only use actual car expenses if you did
not own the car.
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