rr-24-24.pdf

Preserve advance releases and the authoritative Internal Revenue Bulletin rendition; directory timestamps are file-publication metadata, not legal effective dates. HTML bulletins begin June 2003; earlier available issues require full PDF parsing.

This collection currently includes the publisher’s available advance-release directory. Historical bulletin renditions are discovered separately; an advance-release record alone does not certify the collection archive complete.

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. 2024-24

This revenue ruling provides various prescribed rates for federal income tax
purposes for November 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.

2

REV. RUL. 2024-24 TABLE 1

Applicable Federal Rates (AFR) for November 2024

Period for Compounding
Annual Semiannual Quarterly Monthly

Short-term

AFR 4.00% 3.96% 3.94% 3.93%
110% AFR 4.41% 4.36% 4.34% 4.32%
120% AFR 4.81% 4.75% 4.72% 4.70%
130% AFR 5.22% 5.15% 5.12% 5.10%

Mid-term

AFR 3.70% 3.67% 3.65% 3.64%
110% AFR 4.08% 4.04% 4.02% 4.01%
120% AFR 4.45% 4.40% 4.38% 4.36%
130% AFR 4.83% 4.77% 4.74% 4.72%
150% AFR 5.59% 5.51% 5.47% 5.45%
175% AFR 6.52% 6.42% 6.37% 6.34%

Long-term

AFR 4.15% 4.11% 4.09% 4.08%
110% AFR 4.57% 4.52% 4.49% 4.48%
120% AFR 4.99% 4.93% 4.90% 4.88%
130% AFR 5.41% 5.34% 5.30% 5.28%

REV. RUL. 2024-24 TABLE 2

Adjusted AFR for November 2024

3

Period for Compounding
Annual Semiannual Quarterly Monthly
Short-term
adjusted AFR 3.03% 3.01% 3.00% 2.99%

Mid-term
adjusted AFR 2.81% 2.79% 2.78% 2.77%

Long-term
adjusted AFR 3.14% 3.12% 3.11% 3.10%

REV. RUL. 2024-24 TABLE 3

Rates Under Section 382 for November 2024

Adjusted federal long-term rate for the current month 3.14%

Long-term tax-exempt rate for ownership changes during the
current month (the highest of the adjusted federal long-term
rates for the current month and the prior two months.) 3.31%

REV. RUL. 2024-24 TABLE 4

Appropriate Percentages Under Section 42(b)(1) for November 2024
Note: 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%.

Appropriate percentage for the 70% present value low-income
housing credit 7.91%

Appropriate percentage for the 30% present value low-income
housing credit 3.39%

REV. RUL. 2024-24 TABLE 5

Rate Under Section 7520 for November 2024

4
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 4.4%