Tax Guru-Ker$tetter Letter
Friday, April 23, 2004
Do You Own Multiple Homes But No "Principal Residence" For Capital Gains Purposes? - Although this is from last July, I just came across it and even added a link to it on the page on my main website with the article on primary residence sales. It shows that establishing a home as a "primary residence," with up to $500,000 of tax free profit, depends on many of the same issues as are involved with establishing a particular state or country as a person's tax home; topics I deal with quite often. The number of days occupying the home aren't as important as the other indicators of intent to make it your primary residence, such as drivers licenses and voter registration.