Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment).
A taxpayer who qualifies to exclude discharged debt from taxable income may need to lower the value of their depreciable property by the amount they were able to exclude. This information should be reported on Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment).