How much is 347 miles reimbursed in 2026?

$263.72 for a qualifying business trip on or after July 1, 2026, using the IRS optional business mileage rate of 76¢ per mile.

Why the date matters in 2026

The IRS changed the optional business mileage rate midyear. For business miles driven January 1 through June 30, 2026, the rate is 72.5¢ per mile. For business miles driven July 1 through December 31, 2026, the rate is 76¢ per mile. That means the reimbursement estimate for the same 347 miles depends on when the trip occurred.

At 72.5¢ per mile, 347 miles equals $251.58. At 76¢ per mile, the same 347 miles equals $263.72. If your employer uses a custom reimbursement rate instead of the IRS optional rate, use that custom rate in the calculator.

What the IRS rate represents

The standard mileage rate is an optional method used to calculate deductible or reimbursable vehicle costs. It is not simply a fuel allowance. It is designed to represent vehicle operating costs more broadly, which is why comparing mileage reimbursement only with the price of gasoline can be misleading.

Quick formula

Reimbursement = business miles × mileage rate. For 347 miles at 76¢ per mile, that is 347 × 0.76 = 263.72.

Source

The current 2026 rates are published by the Internal Revenue Service. Always verify that the trip and reimbursement policy qualify for the rate you are using.

Related tools

Fuel Cost Calculator · Road Trip Cost Calculator · 500-mile reimbursement guide