It is interesting to learn that there is no statutory definition for principal residence in the Tax Code. If you ask an IRS agent -- or your tax attorney -- for a definition, she will advise you that "whether or not property is used by the taxpayer as his principal residence... depends on all the facts and circumstances in each case, including the good faith of the taxpayer."
Definng a "Principal Residence" is Complex
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Wednesday, July 9, 2014
Definng a "Principal Residence" is Complex
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