Houtan drove his car 400 miles in 2023 to perform volunteer work. He did not keep records of the actual cost for gas or oil. How much can he deduct as a charitable contribution on his Schedule A (Form 1040), Itemized Deductions?

Answer 1

For the tax year 2023, the standard mileage rate for charitable contributions is 14 cents per mile. To calculate the deductible amount for Houtan's 400 miles driven for volunteer work, you can use the following formula:

Deduction = Miles driven × Standard rate

In this case:

Deduction = 400 miles × $0.14/mile = $56.00

Therefore, Houtan can deduct $56.00 as a charitable contribution on his Schedule A (Form 1040), Itemized Deductions.