Discharge for qualified principal residehce indishadissas $($QPR$$ is:

Not likely to trigger oanceliation of debtr inceme

When the bank takes the home from the borower to satisfy the mortgage debt.

Available for a second home.

A restructuring of a loan that aliows the bonower lo retain ownership of their home.

When a taxpayer excludes income from quailfed pronelpal reaidence indebtedness $($QPRI$),$ they must reduce:

The basis in their principal residence

The basis of their tax attibutes on F om tast m any orclise

The basis of their tax atributes in the ordar latael on form $302.$

The basis of depreciable property teeture medieing other assets.

Mark for follow up $$

Save $/$ Return Later

When a taxpayer excludes income from quailfed pronelpal reaidence indebtedness $($QPRI$),$ they must reduce:

The basis in their principal residence

The basis of their tax attibutes on F om tast m any orclise

The basis of their tax atributes in the ordar latael on form $302.$

The basis of depreciable property teeture medieing other assets.

Mark for follow up $$

Save $/$ Return Later