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If solely a part of a mortgage is qualified principal residence indebtedness, you’ll be able to exclude solely the amount of the discharge that is more than the quantity of the loan that isn’t qualified principal residence indebtedness. Additional debt incurred to considerably improve your principal residence can be qualified principal residence indebtedness. The curiosity you paid at settlement ought to be included on the assertion. If it is not, add the interest from the settlement sheet that qualifies as home mortgage curiosity to the total shown on Form 1098 or comparable statement. Put the entire on Schedule A ,…