personal residence

personal residence

One's customary and normal place of habitation, as claimed for voting and income tax purposes.

References in periodicals archive ?
Seniors may defer part or all of their property taxes on their personal residence if they qualify for the Senior Citizen Tax Deferral program.
The concession contract is part of this great project and will focus on the design, implementation, maintenance, maintenance and operation of a Faculty Club and a personal residence as well as the valuation of the Tour Chemistry.
On December 11, 2006, Adams applied for a building permit to build a personal residence on a 1.
Largest facilty doubles as personal residence for owners.
It applies to debt forgiveness in 2009 through 2012 resulting from a foreclosure, "short sale" or loan modification of a taxpayer's qualified personal residence.
The WHBAA extends the availability of the first-time home buyer credit through June 30, 2010, for first-time home buyers who enter into a written binding contract for the purchase of their personal residence before May 1, 2010.
A qualified personal residence trust, also referred to as a "residence GRIT," is created by transferring a residence, or a second home, into a split interest trust for a specific period of time, typically between 10 and 20 years.
From April 2009, tax inspectors will have new powers to inspect business records at the place of business which, for landlords who run their business from home, means giving the tax office access to their personal residence.
1031 if the property is occasionally used as a personal residence.
an irrevocable remainder interest in a personal residence or farm (explained below); (3)
Replacement property acquired in a like-kind exchange must be used as a personal residence for at least two years but must be owned for at least five years before it becomes eligible for the $250,000/$500,000 exclusion under Section 121.
Second, the taxpayer must have owned and used the property as a personal residence for two or more years of the five-year period ending on the date of the sale of the property.

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