Unless O12 = 0.0001930657227898, the comparison will always be false.

12 divided by 31 divided by 2005 = 0.000193...

You could force XL to parse as a date by enclosing "12/31/2005" in
quotes, or you could use the DATE function:

IF(O12=DATE(2005,12,31),....


In article ,
Bill R wrote:

=IF((O12=12/31/2005),(IF(ISERROR(SUM(((F32)/(DAYS360(DATE(2004,12,31),X1,FALSE
)))*(360))*(F13)),"",(SUM(((F32)/(DAYS360(DATE(2004,12,31),X1,FALSE)))*(360))*
(F13)))),F12)

The first part of the formula, (O12=12/31/2005), returns false even if it's
true. The rest of the formula works great.

Any suggestions?