For the $1,000,000 net-worth test, exclude your primary residence’s value. Mortgage debt on it is generally excluded too, up to the home’s fair market value, but debt above the home’s value counts as a liability, and debt added in the 60 days before investing (other than to buy the home) also counts. Include investment accounts, retirement accounts, cash and other property; subtract all other debts.
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More on this stage: Deep Dive: How 506(c) Accreditation Verification Works · Deep Dive: Calculating Net Worth Without Your Home · Deep Dive: Talking It Through as a Household
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