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Elliot's main home is secured by a debt of $1 million, of which $800,000 is qualified principal residence indebtedness. If his main home is sold

Elliot's main home is secured by a debt of $1 million, of which $800,000 is qualified principal residence indebtedness. If his main home is sold for $700,000 and $300,000 of debt is discharged, what amount of the debt discharged qualifies for the Qualified Principal Residence Indebtedness Exclusion?

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