Does the IRS mileage rate cover a 2027 Toyota Corolla?
IRS rate vs your cost
Yes.
- IRS rate
- 76 cents
- July to December 2026
- Your car
- 48.7 cents
- All in
- Paid
- $7,600
- 10,000 business miles
- Cost
- $4,871
- Ahead
- $2,729
LE FWD, 12,000 miles a year, 5 years.
Change the cost
10,000 business miles. IRS rate 76 cents (July to December 2026). Your cost starts at the all-in cost of this car.
| Item | 10,000 miles | A month |
|---|---|---|
| Paid at the IRS rate | $7,600 | $633 |
| Your cost | $4,871 | $406 |
| Difference | +$2,729 | +$227 |
| Item | Cents a mile | 10,000 miles | A month |
|---|---|---|---|
| IRS rate | 76 | $7,600 | $633 |
| Fuel only | 12.4 | $1,243 | $104 |
| Rate minus fuel | +63.6 | +$6,357 | +$530 |
What this cannot tell you
Not tax advice. Rules differ for employers and the self-employed.
- Two or more sources agree
- One source
- Model-level or estimate
- Sources differ
Sources: EPA ratings. EIA gas price. AAA, Your Driving Costs 2026. KBB used values.
IRS rate: IRS standard mileage rates, July 1 to December 31, 2026.