Two questions:
1.) Am I able to claim Principal Residence? Context: My brother and I inherited our father's home when he passed away April 2017. Now in August 2018 the home has finally legally been transferred to both our names, 50/50. The home has been empty for the past year. We will not sell it; assumption is we will not owe capital gains since we're not selling. I will move into home in two years but I spend time there off and on (eg) vacation and some weekends. I live and work and rent an apartment a few hours away. (My brother owns his own home which is his principal residence so he can't claim another.) (Other: For the 2018 property tax year, I didn't claim principal res since it wasn't yet in my name. I believe we can apply to get at least a portion of the prop tax back as principal residence--do you know, is this correct?)
2.) Chances are we will rent the home out for parts of the next 2-year period before I move into it. (a) Can it then still be my principal residence while renting it out if answer to #1 above is 'yes' for ppl res? (b) Assumption is we need to declare rental income.
