Engine/Transmission (1998.5 - 2002) is it my torque converter??

[MEArmstrong]

Hello everyone. I recently bought my 02 quad cab 4x4 about 6 months ago it has 127,000 miles on it now. When i was getting on the on ramp my rpms went up but it never upshifted anf felt mushy. So i limped home at about 50mph and it was shuttering. When i pulled into my carport i smelled a burning smell. The transmission fluid looked good. I'm guessing my converter is toast. Is that what it most likely is? Thank you for any input.