The chapter 7 eliminated your personal responsibility on the loan. No matter what happens after the discharge your debt was eliminated, so form 982 is the way to communicate to the IRS that your debt was discharged under chapter 11 (the bankruptcy code).
After 2012, forgiveness of debt on your residence, without a bankruptcy to eliminate it, will again become taxable to the extent that it make you solvent. See here: http://www.irs.gov/individuals/article/0,,id=179414,00.html.
The debt that was discharged in your bankruptcy is not taxable COD income. The IRS created Form 982 for you to handle this situation. Under code section 108 debt that is discharged in a Title 11 action is not taxable for COD income. You will still most likely receive a 1099, but the income it is reporting will be excluded. In 2013 the Mortgage Debt Forgiveness Act of 2007 is set to expire and the debt canceled on you principal residence will no longer have the $2 million exclusion currently available under the Act. This does not affect the bankruptcy provision that is covered in Section 108 of the IRC.
Any individual seeking legal advice for their own situation should retain their own legal counsel as this response provides information that is general in nature and not specific to any person's unique situation. Circular 230 Disclaimer - Advice given in this response cannot be used to eliminate penalties with the IRS or any other governmental agency.