๐๐ ๐ฒ๐จ๐ฎ ๐ฌ๐จ๐ฅ๐ ๐ ๐ฉ๐ซ๐จ๐ฉ๐๐ซ๐ญ๐ฒ ๐ฅ๐๐ฌ๐ญ ๐ฒ๐๐๐ซ, ๐ฒ๐จ๐ฎ ๐๐๐ง ๐๐๐ฌ๐ข๐ ๐ง๐๐ญ๐ ๐ญ๐ก๐ ๐ฉ๐ซ๐จ๐ฉ๐๐ซ๐ญ๐ฒ ๐๐ฌ ๐ฒ๐จ๐ฎ๐ซ ๐ฉ๐ซ๐ข๐ง๐๐ข๐ฉ๐๐ฅ ๐ซ๐๐ฌ๐ข๐๐๐ง๐๐ ๐จ๐ง ๐ฒ๐จ๐ฎ๐ซ ๐ข๐ง๐๐จ๐ฆ๐ ๐ญ๐๐ฑ๐๐ฌ ๐ญ๐จ ๐๐ฏ๐จ๐ข๐ ๐ฉ๐๐ฒ๐ข๐ง๐ ๐๐๐ฉ๐ข๐ญ๐๐ฅ ๐ ๐๐ข๐ง๐ฌ ๐จ๐ง ๐ญ๐ก๐ ๐ฌ๐๐ฅ๐.
A principal residence is a housing unit that is a house, a cottage, a condominium, an apartment in an apartment building, an apartment in a duplex, a trailer, mobile home or a houseboat.
In addition, the housing unit ๐ฆ๐ฎ๐ฌ๐ญ ๐ฆ๐๐๐ญ ๐ญ๐ก๐ ๐๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐ ๐๐จ๐ฎ๐ซ ๐๐จ๐ง๐๐ข๐ญ๐ข๐จ๐ง๐ฌ each year to be designated as a principal residence:
1. It is a housing unit, a leasehold interest in a housing unit, or a share of the capital stock of a co-operative housing corporation.
2. You own the property alone or jointly with another person.
3. You, your current or former spouse or common-law partner, or any of your children lived in it at some time during the year.
4. You designate the property as your principal residence
You can designate only one property that you own as your principal residence each year, so it is advisable that you ๐๐๐ฌ๐ข๐ ๐ง๐๐ญ๐ ๐ญ๐ก๐ ๐ฉ๐ซ๐จ๐ฉ๐๐ซ๐ญ๐ฒ ๐๐ฌ ๐ฒ๐จ๐ฎ๐ซ ๐ฉ๐ซ๐ข๐ง๐๐ข๐ฉ๐๐ฅ ๐ซ๐๐ฌ๐ข๐๐๐ง๐๐ ๐ฐ๐ข๐ญ๐ก ๐ญ๐ก๐ ๐ฅ๐๐ซ๐ ๐๐ฌ๐ญ ๐๐๐ฉ๐ข๐ญ๐๐ฅ ๐ ๐๐ข๐ง.
Donโt forget to report the sale on your income taxes this year as monetary penalties may apply if the sale is not reported.
๐๐ก๐๐ง๐ค๐ฌ ๐๐จ๐ซ ๐ฐ๐๐ญ๐๐ก๐ข๐ง๐ ! ๐ ๐๐๐ฅ ๐๐ซ๐๐ ๐ญ๐จ ๐๐๐ฅ๐ฅ ๐จ๐ซ ๐ญ๐๐ฑ๐ญ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐ฒ๐จ๐ฎ ๐ฆ๐๐ฒ ๐ก๐๐ฏ๐ ๐จ๐ง ๐ญ๐ก๐ ๐๐ซ๐ข๐ง๐๐ข๐ฉ๐๐ฅ ๐๐๐ฌ๐ข๐๐๐ง๐๐ ๐๐ฑ๐๐ฆ๐ฉ๐ญ๐ข๐จ๐ง!
๐๐๐ฏ ๐๐ก๐๐ค๐ก
๐๐ฆ๐๐๐ซ ๐๐๐๐ฅ๐ญ๐ฒ ๐๐ซ๐จ๐ฎ๐ฉ
๐๐๐.๐๐๐.๐๐๐๐
