A bill to amend the Internal Revenue Code of 1954 to clarify the application of the imputed interest and interest accrual rules in the case of sales of residences, farms, and real property held for trade, business or investment purposes.

referredUnited States· United States Congress· EN

Introduced

10 August 1984

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to exempt from the application of imputed interest rules: (1) the first $250,000 of the sale price of residential property sold by an individual; (2) the first $1,000,000 of the sale price of farm property; and (3) the first $500,000 of the sale price of business, trade, or investment property.

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Documents

1 official file

Introduced in House
summary · EN · 10 August 1984
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/98th-congress/house-bill/6172
Open data entity: https://api.congress.gov/v3/bill/98/hr/6172