I need help figuring something involving a half-percentage.
April 13, 2021 1:31 PM   Subscribe

Per the IRS, the mileage deduction for 2020 is 57.5 cents per mile. I drove a total of 525 business miles (yup; pandemic.) I don’t know how to figure something with two decimal points: .57 x 525 miles is $299.25, but how to figure it with that second decimal of .5% per mile?
posted by BostonTerrier to Work & Money (8 answers total)
Best answer: It's not really a percent, just cents. Since what you want is dollars per mile x miles, you shift the decimal place two places to the left. 57.5 cents becomes .575 dollars. So it's .575 x 525.
posted by FishBike at 1:34 PM on April 13 [1 favorite]

Best answer: 57-and-a-half cents is .575 dollars. So $301.875 - you can round to $302.
posted by vunder at 1:34 PM on April 13

The same way as you did .57, just mulitply by .575 * 525 = 301.875, which for IRS purposes you can round to 302.
posted by The_Vegetables at 1:34 PM on April 13 [2 favorites]

525 miles x $0.575 = $301.875, and because the last digit is a 5, you round up to $301.88.
posted by stormyteal at 1:35 PM on April 13

yes, as FishBike says .575 x 525. Round total up or down if necessary
posted by domino at 1:35 PM on April 13

Response by poster: Thanks, both! Case closed.
posted by BostonTerrier at 1:35 PM on April 13

Oh, yes. And the Vegetables is correct, IRS uses whole dollars, so round up to $302.00
posted by stormyteal at 1:36 PM on April 13

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