IRS LISTS BOND FACTOR AMOUNTS FOR LOW-INCOME HOUSING CREDIT.
Rev. Rul. 99-1; 1999-1 C.B. 265
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Areas/Tax Topics
- Index Termslow-income housing, credit
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 1999-2082 (1 original page)
- Tax Analysts Electronic Citation1999 TNT 10-8
Rev. Rul. 99-1
[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 provides 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 October through December 1998.
Table 1
Rev. Rul. 99-1
Monthly Bond Factor Amounts for Disposition
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
_____________________________________________________________________
Oct '98 61.09 75.25 74.73 76.61 78.85 81.41
Nov '98 61.09 75.25 74.54 76.41 78.65 81.20
Dec '98 61.09 75.25 74.35 76.22 78.45 80.99
_____________________________________________________________________
[table 1 continued]
_____________________________________________________________________
Month of
Disposition 1993 1994 1995 1996 1997 1998
_____________________________________________________________________
Oct '98 84.01 86.47 88.89 91.53 94.25 97.21
Nov '98 83.79 86.25 88.68 91.33 94.09 97.21
Dec '98 83.58 86.04 88.47 91.14 93.94 97.21
_____________________________________________________________________
[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; Rev. Rul. 98-3, 1998-2 I.R.B. 4, for dispositions occurring during the calendar years 1996 and 1997; Rev. Rul. 98-13, 1998-11 I.R.B. 4, for dispositions occurring during the period January through March 1998; Rev. Rul. 98-31, 1998-25 I.R.B. 4, for disposition occurring during the period April through June 1998; and Rev. Rul. 98-45, 1998-38 I.R.B. 4, for dispositions occurring during the period July through September 1998.
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).
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Areas/Tax Topics
- Index Termslow-income housing, credit
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 1999-2082 (1 original page)
- Tax Analysts Electronic Citation1999 TNT 10-8
