rr-24-15.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. 2024-15

This revenue ruling provides various prescribed rates for federal income tax
purposes for August 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. 2024-15 TABLE 1

Applicable Federal Rates (AFR) for August 2024

Period for Compounding
Annual Semiannual Quarte rly Monthly

Short-term

AFR 4.95% 4.89% 4.86% 4.84%
110% AFR 5.45% 5.38% 5.34% 5.32%
120% AFR 5.96% 5.87% 5.83% 5.80%
130% AFR 6.46% 6.36% 6.31% 6.28%

Mid-term

AFR 4.34% 4.29% 4.27% 4.25%
110% AFR 4.78% 4.72% 4.69% 4.67%
120% AFR 5.22% 5.15% 5.12% 5.10%
130% AFR 5.66% 5.58% 5.54% 5.52%
15 0% AFR 6.54% 6.44% 6.39% 6.36%
175% AFR 7.65% 7.51% 7.44% 7.40%

Long-term

AFR 4.52% 4.47% 4.45% 4.43%
110% AFR 4.98% 4.92% 4.89% 4.87%
12 0% AFR 5.43% 5.36% 5.32% 5.30%
130% AFR 5.89% 5.81% 5.77% 5.74%

REV. RUL. 2024-15 TABLE 2

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Adjusted AFR for August 2024

Period for Compounding
Annual Semia nnual Quarterly Monthly
Short-term
adjusted AFR 3.74% 3.71% 3.69% 3.68%

Mid-term
adjusted AFR 3.29% 3.26% 3.25% 3.24%

Long-term
adjusted AFR 3.42% 3.39% 3.38% 3.37%

REV. RUL. 2024-15 TABLE 3

Rates Under Section 382 for August 2024

Adjusted federal long-term rate for the current month 3.42%

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.) 3.62%

REV. RUL. 2024-15 TABLE 4

Appropriate Percentages Under Section 42(b)(1) for August 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 8.03%

Appropriate percentage for the 30% present value low-income
housing credit 3.44%

REV. RUL. 2024-15 TABLE 5

Rate Under Section 7520 for August 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 5.2%