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Principal Residence |
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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. Notes: You can usually avoid capital gains on the sale of your principal residence, provided you buy another place of equal or greater value that is going to become your new residence. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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