If you already filed your tax return, you may need to file an amended return. Here's how to do that
https://ttlc.intuit.com/community/tax-return/help/how-do-i-amend-my-2021-return/00/2544441
Basically, a canceled loan is considered taxable income. You got free money that you didn't pay taxes on, because you promised to pay it back. Now that you don't have to pay it back, that free money is considered taxable income to you, even if it was spent on other things long ago. Read here for more.
https://turbotax.intuit.com/tax-tips/debt/guide-to-debt-cancellation-and-your-taxes/L9YsOVhgB
If you are currently insolvent (unable to pay your debts because they are so much larger than your income) then you don't have to pay tax on the canceled loan. But, you do have to report the canceled loan on your tax return and include the extra form 982 to show insolvency. Turbotax online does not include form 982, so you may have to see a tax professional if you think you can avoid tax by declaring insolvency. You may be able to include form 982 with your tax return if you are using the turbotax program installed on your own computer from a CD or download.
