My client bought a new principal residence well before being able to sell his previous one. Can i treat both homes as principal residence ?

[tilt53 · Accepted solution]

By definition alone there can be only 1 primary.

[abctax55]

HEY, Sandy ..  where ya' been :smile:

[tilt53]

Back in the hospital for a week or so.  Doing better again.

[abctax55]

bummmmmmmmer....sorry to hear that.

[itonewbie]

Take care of yourself, Sandy. :pray:

[sjrcpa]

You have been missed. glad you're doing better.

[IRonMaN]

:+1:

[garman22]

That one is a loaded question. Principal....not in the sense I think you mean. The one you are not living at will be treated as an investment piece of property. You will continue to deduct mortgage interest (assuming you qualify to do so) and property taxes. When you sell, it "should" qualify for the 121 exclusion assuming you meet all qualifications to do so.  

[TaxMonkey]

I'm curious as to the context you are asking this question?