Rev. Rul. 2024-24 — Internal Revenue Bulletin 2024-45

This revenue ruling provides various prescribed rates for federal income tax purposes for November 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.

Approved : September 21, 2024

Aviva R. Aron-Dine, Deputy Assistant Secretary of the Trea-

sury (Tax Policy) .

(Filed by the Office of the Federal Register October 18, 2024, 8:45 a.m., and published in the issue of the Federal Register for October 21, 2024, 89 FR 84079)

November 4, 2024 1086 Bulletin No. 2024–45

REV. RUL. 2024-24 TABLE 1 Applicable Federal Rates (AFR) for November 2024

Period for Compounding Annual Semiannual Quarterly Monthly Short-term AFR 4.00% 3.96% 3.94% 3.93% 110% AFR 4.41% 4.36% 4.34% 4.32% 120% AFR 4.81% 4.75% 4.72% 4.70% 130% AFR 5.22% 5.15% 5.12% 5.10% Mid-term AFR 3.70% 3.67% 3.65% 3.64% 110% AFR 4.08% 4.04% 4.02% 4.01% 120% AFR 4.45% 4.40% 4.38% 4.36% 130% AFR 4.83% 4.77% 4.74% 4.72% 150% AFR 5.59% 5.51% 5.47% 5.45% 175% AFR 6.52% 6.42% 6.37% 6.34% Long-term AFR 4.15% 4.11% 4.09% 4.08% 110% AFR 4.57% 4.52% 4.49% 4.48% 120% AFR 4.99% 4.93% 4.90% 4.88% 130% AFR 5.41% 5.34% 5.30% 5.28%

REV. RUL. 2024-24 TABLE 2 Adjusted AFR for November 2024

Period for Compounding Annual Semiannual Quarterly Monthly Short-term adjusted AFR 3.03% 3.01% 3.00% 2.99% Mid-term adjusted AFR 2.81% 2.79% 2.78% 2.77% Long-term adjusted AFR 3.14% 3.12% 3.11% 3.10%

REV. RUL. 2024-24 TABLE 3 Rates Under Section 382 for November 2024 Adjusted federal long-term rate for the current month 3.14% Long-term tax-exempt rate for ownership changes during the current month (the highest of the adjusted federal 3.31% long-term rates for the current month and the prior two months.)

REV. RUL. 2024-24 TABLE 4 Appropriate Percentages Under Section 42(b)(1) for November 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 7.91% Appropriate percentage for the 30% present value low-income housing credit 3.39%

Bulletin No. 2024–45 1087 November 4, 2024

REV. RUL. 2024-24 TABLE 5 Rate Under Section 7520 for November 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

4.4%

Section 42.—Low-Income Housing Credit