rr-24-17.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. 2024-17

This revenue ruling provides various prescribed rates for federal income tax
purposes for September 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. 2024-17 TABLE 1

Applicable Federal Rates (AFR) for September 2024

Period for Compounding
Annual Semiannual Quarterly Monthly

Short-term

AFR 4.57% 4.52% 4.49% 4.48%
110% AFR 5.03% 4.97% 4.94% 4.92%
120% AFR 5.49% 5.42% 5.38% 5.36%
130% AFR 5.97% 5.88% 5.84% 5.81%

Mid-term

AFR 4.02% 3.98% 3.96% 3.95%
110% AFR 4.43% 4.38% 4.36% 4.34%
120% AFR 4.84% 4.78% 4.75% 4.73%
130% AFR 5.24% 5.17% 5.14% 5.12%
150% AFR 6.06% 5.97% 5.93% 5.90%
175% AFR 7.09% 6.97% 6.91% 6.87%

Long-term

AFR 4.37% 4.32% 4.30% 4.28%
110% AFR 4.81% 4.75% 4.72% 4.70%
120% AFR 5.25% 5.18% 5.15% 5.12%
130% AFR 5.70% 5.62% 5.58% 5.56%

REV. RUL. 2024-17 TABLE 2

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Adjusted AFR for September 2024

Period for Compounding
Annual Semiannual Quarterly Monthly
Short-term
adjusted AFR 3.46% 3.43% 3.42% 3.41%

Mid-term
adjusted AFR 3.04% 3.02% 3.01% 3.00%

Long-term
adjusted AFR 3.31% 3.28% 3.27% 3.26%

REV. RUL. 2024-17 TABLE 3

Rates Under Section 382 for September 2024

Adjusted federal long-term rate for the current month 3.31%

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.) 3.49%

REV. RUL. 2024-17 TABLE 4

Appropriate Percentages Under Section 42(b)(1) for September 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 7.97%

Appropriate percentage for the 30% present value low-income
housing credit 3.42%

REV. RUL. 2024-17 TABLE 5

Rate Under Section 7520 for September 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 4.8%