Hi Max
the values in H8 and J8 are just numbers as percentages, there are no
formulas in those cells. U4 is a formula but shows the result not a ref error

"Max" wrote:

Don't think the percentages in U4, J8 and H8 are an issue causing #REF!
Maybe one of the 3 precedent cells (U4, J8 and H8) is evaluating to #REF!
That's all it takes to cause the IF formula to, in turn, evaluate to #REF!
Try a re-check on the formulas in the 3 precedent cells (U4, J8 and H8)
--
Rgds
Max
xl 97
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xdemechanik <atyahoo<dotcom
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"Micayla Bergen" wrote in message
...
I have =IF(U4="","",IF(U4<'MDA Portfolio Summary'!H8,"ACQUIRE",IF(U4'MDA
Portfolio Summary'!J8,"REDUCE",""))) which should work but it actually
returns a REF error. i havent deleted anything so dont understand the
error.
the answers in U4 and J and H8 are percentages. Is this the issue?