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 used in a trade or business.

Amends the Internal Revenue Code to reduce the rate of imputed interest for: (1) the first $250,000 of the sale price of residential property sold by an individual; (2) the first $1,500,000 of the sale price of farm property sold by an individual, partnership, estate or small business corporation; and (3) the first $500,000 of the sale price of real property associated with the sale of a trade or business.