rr-24-04.pdf

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Section 1274.--Determination of Issue Price in the Case of Certain Debt Instruments
Issued for Property

(Also Sections 42, 280G, 382, 467, 468, 482, 483, 1288, 7520, 7872.)

Rev. Rul. 2024-04

This revenue ruling provides various prescribed rates for federal income tax
purposes for March 2024 (the current month). Table 1 contains the short-term, mid-
term, and long-term applicable federal rates (AFR) for the current month for purposes of
section 1274(d) of the Internal Revenue Code. Table 2 contains the short-term, mid-
term, and long-term adjusted applicable federal rates (adjusted AFR) for the current
month for purposes of section 1288(b). Table 3 sets forth the adjusted federal long-
term rate and the long-term tax-exempt rate described in section 382(f). Table 4
contains the appropriate percentages for determining the low-income housing credit
described in section 42(b)(1) for buildings placed in service during the current month.
However, under section 42(b)(2), the applicable percentage for non-federally subsidized
new buildings placed in service after July 30, 2008, shall not be less than 9%. Finally,
Table 5 contains the federal rate for determining the present value of an annuity, an
interest for life or for a term of years, or a remainder or a reversionary interest for
purposes of section 7520.

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REV. RUL. 2024-04 TABLE 1

Applicable Federal Rates (AFR) for March 2024

Period for Compounding
Annual Semiannual Quarte rly Monthly

Short-term

AFR 4.71% 4.66% 4.63% 4.62%
110% AFR 5.20% 5.13% 5.10% 5.08%
120% AFR 5.67% 5.59% 5.55% 5.53%
130% AFR 6.15% 6.06 % 6.01% 5.98%

Mid-term

AFR 4.13% 4.09% 4.07% 4.06%
110% AFR 4.55% 4.50% 4.47% 4.46%
120% AFR 4.97% 4.91% 4.88% 4.86%
130% AFR 5.39% 5.32% 5.29% 5.26%
15 0% AFR 6.23% 6.14% 6.09% 6.06%
175% AFR 7.29% 7.16% 7.10% 7.06%

Long-term

AFR 4.40% 4.35% 4.33% 4.31%
110% AFR 4.85% 4.79% 4.76% 4.74%
12 0% AFR 5.29% 5.22% 5.19% 5.16%
130% AFR 5.74% 5.66% 5.62% 5.59%

REV. RUL. 2024-04 TABLE 2

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Adjusted AFR for March 2024

Period for Compounding
Annual Semia nnual Quarterly Monthly
Short-term
adjusted AFR 3.57% 3.54% 3.52% 3.51%

Mid-term
adjusted AFR 3.13% 3.11% 3.10% 3.09%

Long-term
adjusted AFR 3.33% 3.30% 3.29% 3.28%

REV. RUL. 2024-04 TABLE 3

Rates Under Section 382 for March 2024

Adjusted federal long-term rate for the current month 3.33%

Long-term tax-exempt rate for ownership changes during the
current month (the highest of the adjusted federal long-term
rates for the current mon th and the prior two months.) 3.44%

REV. RUL. 2024-04 TABLE 4

Appropriate Percentages Under Section 42(b)(1) for March 2024
Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized
new buildings placed in service after Jul y 30, 2008, shall not be less than 9%.

Appropriate percentage for t he 70% present value low-income
housing credit 7.99%

Appropriate percentage for the 30% present value low-income
housing credit 3.42%

REV. RUL. 2024-04 TABLE 5

Rate Under Section 7520 for March 2024

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Applicable federal rate for determining the present value of an
annuity, an interest for life or a term of years, or a remainder or
reversionary interest 5.00%