You can find step-by-step instructions in the TurboTax Help article How do I report excludable (non-taxable) canceled debt?.
Also, as you're entering your Form 982 information into the program, it's helpful to have a pdf of both Form 982 and the Instructions for Form 982 in front of you.
In certain situations, you can exclude amount of discharged indebtedness from your gross income. You do this by filing Form 982 with your tax return.
