rr-24-13.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. 2024-13

This revenue ruling provides various prescribed rates for federal income tax
purposes for July 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
sect ion 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%. 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. Finally, Table 6 contains the blended annual rate for 2024 for purposes of
section 7872.

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REV. RUL. 2024-13 TABLE 1

Applicable Federal Rates (AFR) for July 2024

Period for Compounding
Annual Semiannual Quarterly Monthly

Short-term

AFR 5.06% 5.00% 4.97% 4.95%
110% AFR 5.58% 5.50% 5.46% 5.44%
120% AFR 6.09% 6.00% 5.96% 5.93%
130% AFR 6.61% 6.50% 6.45% 6.41%

Mid-term

AFR 4.49% 4.44% 4.42% 4.40%
110% AFR 4.94% 4.88% 4.85% 4.83%
120% AFR 5.40% 5.33% 5.29% 5.27%
130% AFR 5.85% 5.77% 5.73% 5.70%
150% AFR 6.77% 6.66% 6.61% 6.57%
175% AFR 7.92% 7.77% 7.70% 7.65%

Long-term

AFR 4.61% 4.56% 4.53% 4.52%
110% AFR 5.08% 5.02% 4.99% 4.97%
120% AFR 5.54% 5.47% 5.43% 5.41%
130% AFR 6.02% 5.93% 5.89% 5.86%

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REV. RUL. 2024-13 TABLE 2

Adjusted AFR for July 2024

Period for Compounding
Annual Semiannual Quarterly Monthly
Short-term
adjusted AFR 3.84% 3.80% 3.78% 3.77%

Mid-term
adjusted AFR 3.40% 3.37% 3.36% 3.35%

Long-term
adjusted AFR 3.49% 3.46% 3.45% 3.44%

REV. RUL. 2024-13 TABLE 3

Rates Under Section 382 for July 2024

Adjusted federal long-term rate for the current month 3.49%

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.) 3.62%

REV. RUL. 2024-13 TABLE 4

Appropriate Percentages Under Section 42(b)(1) for July 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 8.06%

Appropriate percentage for the 30% present value low-income
housing credit 3.45%

REV. RUL. 2024-13 TABLE 5

4

Rate Under Section 7520 for July 2024

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 5.4%

REV. RUL. 2024-13 TABLE 6

Blended Annual Rate for 2024

Section 7872(e)(2) blended annual rate for 2024 5.03%