Reagans’ Primary Home
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Ruth Ryon’s column (Jan. 29) raised the question whether the White House or the Santa Barbara estate would be considered the Reagans’ primary residence eligible for certain tax advantages (i.e. rollover of the gain). Richard Nixon fought the same battle and lost to the IRS. Nixon tried to argue that his San Clemente estate was his primary residence, but the IRS correctly held that during his years in office the White House was his primary residence, and therefore any gain on other properties was subject to tax currently.
PHILIP J. HOLTHOUSE
Los Angeles
Holthouse is a partner in the accounting firm of Parks, Palmer, Turner & Yemenidjian.
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