Insolvency requires checking one (1) {один} box.  Maybe not fun, but quick.  

All I know is what I read in the Internal Revenue Manual:

If the TP reports the full amount of the IR and then zeroes it out, request the TP either get a corrected statement from the payer or submit a completed Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (And Section 1082 Basis Adjustment).