This isn't something that would require a tax lawyer. Whether you prefer to work with a local tax preparer or a CPA is up to you. If you are used to using TurboTax to prepare your taxes, you can use the desktop version of our software to handle this.
TurboTax's Desktop software includes the forms and worksheets necessary to exclude any of this income because you meet the insolvency criteria. (For 2023, at least, these forms are not supported in TurboTax Online. That may change for 2024's tax forms.)
If you don't meet the criteria to claim the insolvency exclusion, then you can use any version of our software to simply report the income from the 1099-C.
You should gather up the information about your account balances and assets for the day that the 1099-C was issued for. Just make a list of the things you owned (and how much they were worth) and the debts you owed (to whom and for how much) on that date. Keep it with the 1099-C for that you have the information when it comes time to do your tax return.
This article has more information about actually filing these forms: Is canceled, forgiven, or discharged debt taxable?
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