Is principal residence the home we live in?

daseret · ‎June 4, 2019

Coleen3 · ‎June 4, 2019

Yes. You could have second or even third homes, but they would not be your principal residence.

'Principal Residence'

The primary location that a person inhabits. It doesn't matter whether it is a house, apartment, trailer or boat, as long as it is where you live most of the time

Read more: Principal Residence https://www.investopedia.com/terms/p/principalresidence.asp#ixzz55EfertN5

Principal residence

The place one declares as his or her primary domicile; the address used on a driver's license,for voting,and for income taxes.The choice of a principal residence can make a difference regarding liability for income taxes, estate taxes, creditors'rights, homestead exemptions, and other such legal and economic consequences.

http://financial-dictionary.thefreedictionary.com/Principal+Residence

View solution in original post

xmasbaby0 · ‎June 4, 2019

Yes the home you live in is your principal residence.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**