rr-24-07.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. 2024-07

This revenue ruling provides various prescribed rates for federal income tax
purposes for April 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%. 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. 2024-07 TABLE 1

Applicable Federal Rates (AFR) for April 2024

Period for Compounding
Annual Semiannual Quarterly Monthly

Short-term

AFR 4.89% 4.83% 4.80% 4.78%
110% AFR 5.38% 5.31% 5.28% 5.25%
120% AFR 5.88% 5.80% 5.76% 5.73%
130% AFR 6.38% 6.28% 6.23% 6.20%

Mid-term

AFR 4.30% 4.25% 4.23% 4.21%
110% AFR 4.73% 4.68% 4.65% 4.64%
120% AFR 5.17% 5.10% 5.07% 5.05%
130% AFR 5.61% 5.53% 5.49% 5.47%
150% AFR 6.48% 6.38% 6.33% 6.30%
175% AFR 7.58% 7.44% 7.37% 7.33%

Long-term

AFR 4.45% 4.40% 4.38% 4.36%
110% AFR 4.90% 4.84% 4.81% 4.79%
120% AFR 5.35% 5.28% 5.25% 5.22%
130% AFR 5.80% 5.72% 5.68% 5.65%

REV. RUL. 2024-07 TABLE 2

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Adjusted AFR for April 2024

Period for Compounding
Annual Semiannual Quarterly Monthly
Short-term
adjusted AFR 3.70% 3.67% 3.65% 3.64%

Mid-term
adjusted AFR 3.26% 3.23% 3.22% 3.21%

Long-term
adjusted AFR 3.37% 3.34% 3.33% 3.32%

REV. RUL. 2024-07 TABLE 3

Rates Under Section 382 for April 2024

Adjusted federal long-term rate for the current month 3.37%

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.) 3.37%

REV. RUL. 2024-07 TABLE 4

Appropriate Percentages Under Section 42(b)(1) for April 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 8.02%

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

REV. RUL. 2024-07 TABLE 5

Rate Under Section 7520 for April 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 5.20%