rr-09-29.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, 412, 467, 468, 482, 483, 642, 807, 846, 1288, 7520,
7872.)

# Rev. Rul. 2009-29

This revenue ruling provides various prescribed rates for federal
income tax purposes for September 2009 (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 September 30, 2008, and before December 31, 2013, 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. 2009-29 TABLE 1 Applicable Federal Rates (AFR) for September 2009

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term

AFR

.84%

.84%

.84%

.84%

110% AFR

92%

.92%

.92%

92%

120% AFR

1.01%

1.01%

1.01%

1.01%

130% AFR

1.09%

1.09%

1.09%

1.09%

Mid-term

AFR

2.87%

2.85%

2.84%

2.83%

110% AFR

3.16%

3.14%

3.13%

3.12%

120% AFR

3.45%

3.42%

3.41%

3.40%

130% AFR

3.74%

3.71%

3.69%

3.68%

150% AFR

4.33%

4.28%

4.26%

4.24%

175% AFR

5.05%

4.99%

4.96%

4.94%

Long-term

AFR

4.38%

4.33%

4.31%

4.29%

110% AFR

4.82%

4.76%

4.73%

4.71%

120% AFR

5.27%

5.20%

5.17%

5.14%

130% AFR

5.71%

5.63%

5.59%

5.57%

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REV. RUL. 2009-29 TABLE 2 Adjusted AFR for September 2009

Period for Compounding Annual Semiannual Quarterly Monthly

Short-term adjusted AFR

.84%

.84%

.84%

.84%

Mid-term adjusted AFR

1.99%

1.98%

1.98%

1.97%

Long-term adjusted AFR

4.33%

4.28%

4.26%

4.24%

REV. RUL. 2009-29 TABLE 3
Rates Under Section 382 for September 2009

Adjusted federal long-term rate for the current month
4.33%

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

4.48%

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# REV. RUL. 2009-29 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for September 2009

Note: Under Section 42(b)(2), the applicable percentage for non-federally
subsidized new buildings placed in service after September 30, 2008, and before
December 31, 2013, shall not be less than 9%.

REV. RUL. 2009-29 TABLE 5 Rate Under Section 7520 for September 2009

Appropriate percentage for the 70% present value low-income

housing credit

7.84%

Appropriate percentage for the 30% present value low-income

housing credit

3.36%

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
3.4%