Hello! I received a Form 5564 Notice of Deficiency from the IRS for my 2015 tax return. They rightly say I received a 1099-C for the cancelled amount of $8,983, but it wasn't reported.

I know I was insolvent (still am) for more than this, based on the insolvency worksheet to the tune of $58,264.

My question is this: can I file an amended 2015 return and send in the form 982 along with the insolvency worksheet to take care of the cancelled debt, or is there another way to go about having that cancelled amount NOT included in my 2015 income, thereby nullifying the Notice of Deficiency?

I hope that makes sense. I'm not too familiar with tax stuff. Thank you!