Full Time RVer with Property in State Other than Legal Residence
We are full time RV'ers with legal residence in South Dakota. We own a park model in Arizona.
We are interested in the tax ramifications of selling this property. Can we consider this our principal residence if we live in it for two winter seasons out of five? The IRS states that if you live in your principal residence for 2 out of 5 years then you will not need to pay capital gains on any profit. Right now we are full timers and do not live in the park model, but would move into it so that we could sell it in 2 years. In summary, mainly we would like to know if we live in a residence in a different state that our legal residence, can that be considered our "principal" residence?