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- Legally, a home is considered12:
- A person's permanent primary residence, even if they aren't currently living there.
- A physical location where there is an intention to return and the resident has not claimed someplace else as their legal place of permanent or principal residence.
- A dwelling unit used for personal purposes during the tax year for more than 14 days or 10% of the total days rented to others at a fair rental price3.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Legally, a home is a person's permanent primary residence—even if they aren't currently living there. A physical location is still legally considered a home if there is an intention to return and the resident has not claimed someplace else as their legal place of permanent or principal residence.www.investopedia.com/terms/h/home.aspYour primary residence (also known as a principal residence) is your home. Whether it’s a house, condo or townhome, if you take up occupancy there for the majority of the year and can prove it, it’s your primary residence, and it could qualify for a lower mortgage rate.www.rocketmortgage.com/learn/primary-residenceYou're considered to use a dwelling unit as a residence if you use it for personal purposes during the tax year for a number of days that’s more than the greater of: 14 days, or 10% of the total days you rent it to others at a fair rental price.www.irs.gov/taxtopics/tc415 - People also ask
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