Question: John was single when he first bought his house in Edmonton in 1 9 9 4 for $ 1 1 0 , 0 0 0
John was single when he first bought his house in Edmonton in for $ In he married Olivia, and in they purchased a ski chalet in the mountains for $ At that time, John also had his house appraised and it was valued at $ In they sold both properties and moved to Ontario so that Olivia could be close to her ailing mother. They received $ for the house and $ for the ski chalet. Which of the following statements is true?
They must claim the house as their principal residence from to because it was their principal home.
John should claim the house as his principal residence, while Olivia claims the ski chalet as her principal residence.
They should claim the house as their principal residence from until and the ski chalet from to
They should claim the house as their principal residence from until and the ski chalet for
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
