rr-01-34.pdf

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# Part I

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. 2001-34

This revenue ruling provides various prescribed rates for
federal income tax purposes for July 2001 (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) (2) for buildings placed in service
during the current month. 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 2001 for purposes of section 7872.

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REV. RUL. 2001-34 TABLE 1 Applicable Federal Rates (AFR) for July 2001 Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-Term

AFR

4.07%

4.03%

4.01%

4.00%

110% AFR

4.48%

4.43%

4.41%

4.39%

120% AFR

4.90%

4.84%

4.81%

4.79%

130% AFR

5.31%

5.24%

5.21%

5.18%

Mid-Term

AFR

5.12%

5.06%

5.03%

5.01%

110% AFR

5.65%

5.57%

5.53%

5.51%

120% AFR

6.16%

6.07%

6.02%

5.99%

130% AFR

6.69%

6.58%

6.53%

6.49%

150% AFR

7.73%

7.59%

7.52%

7.47%

175% AFR

9.06%

8.86%

8.76%

8.70%

Long-Term

AFR

5.82%

5.74%

5.70%

5.67%

110% AFR

6.41%

6.31%

6.26%

6.23%

120% AFR

7.01%

6.89%

6.83%

6.79%

130% AFR

7.60%

7.46%

7.39%

7.35%

REV. RUL. 2001-34 TABLE 2 Adjusted AFR for July 2001 Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term adjusted AFR

3.16%

3.14%

3.13%

3.12%

Mid-term adjusted AFR

3.87%

3.83%

3.81%

3.80%

Long-term adjusted AFR

5.00%

4.94%

4.91%

4.89%

REV. RUL. 2001-34 TABLE 3
Rates Under Section 382 for July 2001

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Adjusted federal long-term rate for the current month
5.00%

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. )

5.01%

REV. RUL. 2001-34 TABLE 4

Appropriate Percentages Under Section 42 (b) (2)
for July 2001

Appropriate percentage for the 70% present
value low-income housing credit
8.28%

Appropriate percentage for the 30% present
value low-income housing credit
3.55%

# REV. RUL. 2001-34 TABLE 5

Rate Under Section 7520 for July 2001

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
6.2%

# REV. RUL. 2001-34 TABLE 6 Blended Annual Rate for 2001

Section 7872 (e) (2) blended annual rate for 2001
4.98%