Purpose of the form
Generally, the amount by which you benefit from the discharge of indebtedness is included in your gross income. However, under certain circumstances described in section 108, you may exclude the amount of discharged indebtedness from your gross income.
You must file Form 982 to report the exclusion and the reduction of certain tax attributes either dollar for dollar or 33 and 1/3 cents per dollar.
For specific instructions, please see Form 982 Instructions.