Frequently, as part of debt restructuring where indebtedness is discharged, the income tax basis of part or all of the debtor's assets is to be reduced. The procedures for reduction of basis vary some depending upon whether the discharge of indebtedness is in bankruptcy, is for a debtor who is insolvent but not in bankruptcy, is for a solvent farm debtor, or involves a purchase price reduction. In some instances, the basis is reduced down to the aggregate indebtedness on the property; in other instances, notably when the election is made to reduce the basis of the depreciable property first, the basis is to be reduced to zero.