Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Income — Capital Gain or Loss

Main Home

Definition of Main Home

It is important to have a clear understanding of what is, and what is not, an individual's main home. Only a gain from the sale of a taxpayer's main home is eligible to be excluded from the taxpayer's income.

A taxpayer's main home is the residence where the taxpayer lives most of the time. It does not have to be a traditional house. It simply has to be the residence where the taxpayer lives most of the time. A taxpayer's main home can be a:

  • House
  • Houseboat
  • Mobile home
  • Cooperative apartment, or
  • Condominium (house or apartment)

The taxpayer's main home may also be a rented house or apartment. Taxpayers who have more than one home, cannot choose which home to designate as their main home.

A home.