Tax Notes logo
HOMETax Notes ResearchFederalIRS Guidancerevenue rulings

IRS LISTS BOND FACTOR AMOUNTS FOR LOW-INCOME HOUSING CREDIT.

MAR. 16, 1998

Rev. Rul. 98-13; 1998-1 C.B. 686

DATED MAR. 16, 1998
DOCUMENT ATTRIBUTES
Citations: Rev. Rul. 98-13; 1998-1 C.B. 686

Rev. Rul. 98-13

[1] In Rev. Rul. 90-60, 1990-2 C.B. 3, the Internal Revenue Service provided guidance to taxpayers concerning the general methodology used by the Treasury Department in computing the bond factor amounts used in calculating the amount of bond considered satisfactory by the Secretary under section 42(j)(6) of the Internal Revenue Code. It further announced that the Secretary would publish in the Internal Revenue Bulletin a table of "bond factor" amounts for dispositions occurring during each calendar month.

[2] This revenue ruling provided in Table 1 the bond factor amounts for calculating the amount of bond considered satisfactory under section 42(j)(6) for dispositions of qualified low-income buildings or interests therein during the period January through March 1998.

                                TABLE 1

 

                            REV. RUL. 98-13

 

        MONTHLY BOND FACTOR AMOUNTS FOR DISPOSITIONS EXPRESSED

 

                   AS A PERCENTAGE OF TOTAL CREDITS

 

 

               CALENDAR YEAR BUILDING PLACED IN SERVICE

 

              OR, IF SECTION 42(f)(1) ELECTION WAS MADE,

 

                     THE SUCCEEDING CALENDAR YEAR

 

 

 Month of

 

 Disposition     1987     1988     1989     1990     1991     1992

 

 ___________    ______   ______   ______   ______   ______   ______

 

 

 Jan '98         63.96    79.57    81.84    84.75    88.14    91.97

 

 Feb '98         63.96    79.59    81.49    84.49    87.86    91.67

 

 Mar '98         63.96    79.57    81.35    84.24    87.59    91.37

 

 

                           [table continued]

 

 

 Month of

 

 Disposition     1993     1994     1995     1996     1997     1998

 

 ___________    ______   ______   ______   ______   ______   ______

 

 

 Jan '98         95.92    99.75   103.57   107.70   111.85   112.52

 

 Feb '98         95.59    99.39   103.18   107.25   111.28   112.52

 

 Mar '98         95.27    99.04   102.80   106.83   110.79   112.52

 

 

[3] For a list of bond factor amounts applicable to dispositions occurring during other calendar years, see the following revenue rulings: Rev. Rul. 95-83, 1995-2 C.B. 8, for dispositions occurring during calendar year 1995; and Rev. Rul. 98-3, 1998-2 I.R.B. 4, for dispositions occurring during the calendar years 1996 and 1997.

DRAFTING INFORMATION

[4] The principal author of this revenue ruling is Jack Malgeri of the Office of Assistant Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue ruling, contact Mr. Malgeri at (202) 622-3040 (not a toll-free call).

DOCUMENT ATTRIBUTES
Copy RID