private residence
If a taxpayer owns a home but rents it for less than 14 days a year, the IRS considers it a private residence.
Who can claim the co-owner mortgage interest deduction?
1098 has several names, but he's the only one who pays mortgages and interest.
Only the person who actually paid the interest can make the deduction.
How long must you live in the property before it becomes your primary residence?
A recent ruling by the Tier 1 Tax Court confirmed that there is no minimum period of residence required to secure the principal residence deduction. What is important is that there was a period of residence as the sole or principal place of residence.
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