Vacation Home and Primary Residence

If you have a vacation home and a primary residence, you will need to keep records to reflect which home will be considered your primary residence. Residency is based on all facts and circumstances including the following: amount of time spent in each state, where you are registered to vote, the state your driver's license is in, where you receive your mail, etc. Keeping good records is essential. This information will be used to determine your state of residency and potential gain exclusion on future sale of residence.