garman22
Level 13
12-07-2019
05:12 AM
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That one is a loaded question. Principal....not in the sense I think you mean. The one you are not living at will be treated as an investment piece of property. You will continue to deduct mortgage interest (assuming you qualify to do so) and property taxes. When you sell, it "should" qualify for the 121 exclusion assuming you meet all qualifications to do so.