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Principal residence defined...

Posted by Ward-CA- on February 12, 2010 at 10:24 AM

In Reply to: 1099 posted by Ariel Alcantara on February 11, 2010 at 1:41 PM


Ariel,

On IRS’ Form 982 (Rev. March 2009) titled, "Reduction of Tax Attributes Due to Discharge of
Indebtedness (and Section 1082 Basis Adjustment)", the term “principal residence” is defined as follows:

Principal Residence: Your principal residence is the home where you ordinarily live most of the time. You can have only one principal residence at any one time.

Here’s the applicable web site:

http://tinyurl.com/ylpvu4

----------------------Ward


: What is the definition of "primary residence" in the Mortgage Forgiveness Debt Relief Act of 2007"?



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