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The factors for determining the present value of an income stream payable for a term of years are in Publication 1457, Table B, Term Certain Factors.
IRC section 7520 mandates the use of IRS-issued actuarial tables provided in Publication 1457. The tables are based on monthly floating interest rates and mortality assumptions; they are used to value interests in property, including annuities, life estates, remainder interests, and reversions mandated for transfers after April 30, 1989.
IRS Publication 1457 provides actuarial factors for an annuity payable for a term of years (Table B) and adjustment factors for period payments (Table K).
(IRS Publication 1457 Actuarial Values, Alpha Volume and IRS Publication 1458 Actuarial Values, Beta Volume, which were based on the 1980 census, will be replaced by the soon to be issued IRS Publication 1457 Actuarial Values, Book Aleph and IRS Publication 1458 Actuarial Values, Book Beth.)
The hypothetical life annuity is based on the annuity factor in Table S of IRS Publication 1457 for 120% of the Federal mid-term rate.
It is not based on probabilities and is determined with commutation tables published by the IRS in Publication 1457, Volume Alpha.
The probability that F will survive a 10-year term is 63.2693% (calculated based on Table 80CNSMT of IRS Publication 1457: the factor for his age at the end of the QPRT term divided by the factor for his age when the QPRT was established) and the value of his retained interest in the 10-year QPRT is 70.6941% (calculated based on Table B of IRS Publication 1457: the value of a remainder interest multiplied by the probability of the grantor surviving the trust term.
The IRS tables for single-life and joint-life annuities are included in IRS Publication 1457. In addition, excerpts of the single-life tables (but not the joint-life tables) can be found in Notice 89-60.
The relevant tables are also contained in Publication 1457. Essentially, Sec.
Present value factor from Table B (IRS Publication 1457) x 6.2516 437,612 Value of gift $ 562,388
IRS Publication 1457 provides in Table B that, at this interest rate, the following factors apply for a 10-year term interest.
7520, is determined using IRS Publication 1457 (Aug.
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