1997 Taxpayer Relief Act

[Anthony Angotti]

Hello, I have a question about the sale of a property and the principal residence exclusion principle of the TaxpayerRelief Act of 1997. How does this apply to someone living in a four unit or less property and has been for at least a year? Can you still file the property as a principal residence if you are renting the other units? In other words can you still make a tax free sale as you would if it was a SFH you were living in? Assuming it is less than $250,000 in gain as is required. Thanks!