"QWERTY" wrote in message
om...
Since the kids are out of the house I purchased a home in another
state, but it is only 1.5hrs from the apartment we are living in now.
I usually comute to work from the house Monday and Thursdays,
remaining time from the apartment since the comute is shorter. I have
claimed the house as a primary residence since I'm there 3-4 days of
every week. It is a close 50/50 but we only rent the other residence
anyway.
I was going to transfer my car registrations and license to the other
state of the house, however, our tax advisor told me that this is not
necessary unless I was going to actually sell the house.
She told me your state of licence issuance is only a concern for the
IRS when you sell the house. You can claim a primary home in a
seperate state of your license issuance, but it would only be a
concern if you sold the house.
I was told it is not an issue about having primary insurance on the
house either.
What is this groups opinion about this? Should I claim the house as a
secondary residence or should I transfer my licence & registration?
I've been told car/home insurance in the state were the house is
located is significantly higher in the state were the house is located
compared to the state were the apartment is located.
Appreciate any help
This is Turtle.
I got into this between Louisiana and Texas. I can claim either place as my main
address but the Auto Registeration , Insurance , and licence tag for the auto
will have to be in that state that you claim as the main address where you live
at. It will be your choice but look at cost of taxes and fees for that address
you choose.
Now one to look at. If your in Texas and move to Louisiana and register your
auto in Louisiana. You will pay sales tax on the auto to get it registered in
Louisiana. If you drive a $20K auto, you will pay 4% sales tax to have it
registered and about a cost of $800.00+ registeration fees and licence plates
fees.
Now another one. Louisiana and some other states have State income taxes and
other do not have it. If the state you register in has State income taxes. You
will start paying 5% like Louisiana of what you make to the state just like your
Federal income taxes.
Listen to your tax Advisor on this and check out the above.
TURTLE
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