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condominium was petitioner's primary residence as of August 27,
1988.
The determinations of whether property (1) is used by a
taxpayer as his residence and (2) is used as his principal
residence depends upon all the facts and circumstances. Sec.
1.1034-1(c)(3), Income Tax Regs. For purposes of section 1034,
property is "used" by taxpayer as his residence if the taxpayer
physically occupies or lives in that property. United States v.
Sheahan, 323 F.2d 383, 386 (5th Cir. 1963); Bayley v.
Commissioner, 35 T.C. 288, 295 (1960). An individual may have
more than one residence. Howard v. Commissioner, 16 T.C. 157
(1951), affd. 202 F.2d 28 (9th Cir. 1953). A residence is a
taxpayer's "principal residence" if it is his "chief or main"
place of residence, considering all relevant facts, including the
amount of time the taxpayer spends at one residence as opposed to
another. Stolk v. Commissioner, 40 T.C. 345, 351, 356 (1963),
affd. per curiam 326 F.2d 760 (2d Cir. 1964).
A residence as distinguished from a domicile does not mean
one's permanent place of abode. In Stolk v. Commissioner, supra
at 355, we stated: "The elements of residence are the fact of
abode and the intention of remaining, and the concept of
residence is made up of a combination of acts and intention.
Neither bodily presence alone nor intention alone will suffice to
create a residence." Residence is something less than domicile.
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