The screen where you enter Form 1099-C in TurboTax says the following.
"Important info about your canceled debt...
In some situations, canceled debt can be excluded from taxable income. These situations might include bankruptcy or insolvency. If you think one of these exclusions applies to you, we recommend you have a tax pro review your situation."
If you are using the CD/Download TurboTax software, you can complete Form 982 and the Statement of Insolvency in forms mode, but there is essentially no help or guidance. You have to know what you're doing. That's why consulting a tax professional is recommended.
In TurboTax Online there is no way to complete Form 982 for insolvency.
