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Old 11-16-2022, 07:24 AM
 
8,575 posts, read 12,398,483 times
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Quote:
Originally Posted by lpranger467 View Post
Well in a funny twist,, because we have pets we have been living on the site in a camper for past year..any idea if this would count towards 2 year rule ?
That's an interesting twist. Offhand, I frankly don't know for sure as I've never looked into that possibility. I"m sure that someone has...and I'm sure that the IRS has!
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Old 11-16-2022, 07:43 AM
 
Location: NYC & Media PA
840 posts, read 692,356 times
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Ive looked at IRS publications and it only speaks of primary residence which it is, I dont want to find out the hard way.


Quote:
Originally Posted by jackmichigan View Post
That's an interesting twist. Offhand, I frankly don't know for sure as I've never looked into that possibility. I"m sure that someone has...and I'm sure that the IRS has!
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Old 11-16-2022, 07:45 AM
 
Location: Columbia, SC
10,966 posts, read 21,974,961 times
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Quote:
Originally Posted by lpranger467 View Post
Well in a funny twist,, because we have pets we have been living on the site in a camper for past year..any idea if this would count towards 2 year rule ?
Check with an accountant. Have you claimed it as your primary residence.
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Old 11-16-2022, 07:53 AM
 
Location: NYC & Media PA
840 posts, read 692,356 times
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We have on taxes, drivers license etc. We cant get homestead until we are in the house is all.

I did ask a local accountant and they werent sure

Quote:
Originally Posted by Brandon Hoffman View Post
Check with an accountant. Have you claimed it as your primary residence.
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Old 11-16-2022, 08:01 AM
 
21,884 posts, read 12,943,092 times
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Retirement is the time to spend and enjoy the money you built and saved over the years; not the time for investing. Sounds like you and wife are on two different pages. Marriage counseling! It's clear that you really do NOT want to live there...
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Old 11-16-2022, 08:03 AM
 
8,575 posts, read 12,398,483 times
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Quote:
Originally Posted by lpranger467 View Post
Ive looked at IRS publications and it only speaks of primary residence which it is, I dont want to find out the hard way.
Yes, an RV can clearly count as a principal residence...but it isn't attached to the land. That would be my primary concern. It's an interesting legal question but I sure wouldn't want to be the first one to test it. A lot more research is needed before you even think about claiming it. I wouldn't even rely on an accountant or CPA for advice. I'd need to see clear iRS guidance which would allow it.

If it remains an open question--and you're seriously thinking of claiming it--you could ask the IRS for a letter ruling on the matter. That would be the safest route, but i don't know how long they take or whether that would put you under a greater spotlight with the iRS. You don't need that added stress.
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Old 11-16-2022, 08:08 AM
 
5,969 posts, read 3,711,573 times
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Since you don't have any other residences and since you ARE living on the property full time, then I would think that would qualify as your primary residence. If it isn't your primary residence, then what is? (Rhetorical question). I also assume that you list that as your home address on your driver's license and on your voter registration, and that you have utilities in your name at that address. Correct? You can't live in a post office box.

Of course, you are continuing to improve your primary residence as you live there, but there's no law against that. For real estate purposes, it's the land (and any improvements thereon) that is owned, bought, or sold. You don't actually sell a "house" even though that is the term that is commonly used. You sell the LAND. The house just happens to be an improvement located thereon.

FYI, I'm not a lawyer, but I have watched several episodes of Perry Mason on TV, so that qualifies me to give legal advice.
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Old 11-16-2022, 08:11 AM
 
21,884 posts, read 12,943,092 times
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Scroll down to "IRS" section:

https://www.rvingknowhow.com/financi...ary-residence/

If your wife liked Philly, why did you move???
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Old 11-16-2022, 08:25 AM
 
8,575 posts, read 12,398,483 times
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Quote:
Originally Posted by otterhere View Post
Scroll down to "IRS" section:

https://www.rvingknowhow.com/financi...ary-residence/

If your wife liked Philly, why did you move???
Interesting, but there's nothing in the article which relates to the OP's question.
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Old 11-16-2022, 09:08 AM
 
21,884 posts, read 12,943,092 times
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Quote:
Originally Posted by jackmichigan View Post
Interesting, but there's nothing in the article which relates to the OP's question.
The article says (if you scroll down, as I instructed) that the IRS considers an RV - or even a boat - a primary residence if you use it as such, it's your legal address, and the unit has a kitchen, utilities, and a working bathroom. Therefore, it should count toward his two years, which was his question.
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