The present invention is a plank precision spacing device comprised of a sheet component and a pluralty of clamp components with a flattened upper surface perpendicular to the sheet component, and a gripping component and protuberances which engage siding planks. The clamp component further includes a lip which is angled outward. The plank precision spacing device eliminates the need to measure and chalk a line for each siding plank, reducing installation time and labor costs.