After 23 years of treating the gain on the “principal residence” as deferrable if a new residence was purchased for a price at least equal to the selling price on the old residence, beginning in 1951,1 and 46 years permitting an individual to exclude part or all of the gain on the “principal residence,”2 the Tax Court in 20103 finally faced the question of the meaning of “principal residence.”4



To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.