I rented the basement of someone's house the full year of 2017, and it is the only place I had. Is that considered my principal residence?

[Jocelyn-TurboTax · Accepted solution]

Actually the Canada Revenue Agency (CRA) defines principal residence as any residential property both owned and occupied by you or family at any time in a given year.

The principal residence exception is used for tax purposes to shelter any increases in property value from being subject to capital gains when sold, like other investments.

In your case since you are renting you would not be declaring a principal residence for tax purposes.