Can I subtract the debts I owe?

You can subtract debts that are due now or within the coming year. If you have a long term loan such as a mortgage, you do not subtract the whole balance. You subtract only the payments due over the next twelve months, and only the capital part, since interest is never counted. Overdue bills and arrears can be subtracted in full. Debts that are not yet due, and any unlawful or interest based amounts, cannot be deducted.