you may be able to exclude some or all from taxability. however you have provided no info so the ability to help you is limited. IRC 108 provides a means to reduce the taxable amount by reducing tax attributes. whether this applies to you is unknown. see form 982 and instructions as well as PUB 4681
https://www.irs.gov/forms-pubs/about-form-982
Generally, the amount by which you
benefit from the discharge of
indebtedness is included in your gross
income. However, under certain
circumstances described in section 108,
you can exclude the amount of discharged
indebtedness from your gross income.
You must file Form 982 to report the
exclusion and the reduction of certain tax
attributes either dollar for dollar or 331/3
cents per dollar (as explained later) in the instructions
https://www.irs.gov/forms-pubs/about-publication-4681
