Basics first- fluid level normal? Burnt-smelling or blackened?
IF not, then more clarification. When you say "won't shift out of first"... does it actually drive forward in first without slipping, and do you mean with the gear selector in "D" or in "1"? If the truck wont move forward in "D" or "2" but WILL move forward in "1," then you probably broke the sprag (overrunning clutch). Putting the selector in "1" rather than "D" adds the low/reverse band in parallel to the sprag, so the truck should drive forward even if the sprag is broken. Reverse doesn't use the sprag, but does also use the low/reverse band
If you mean it "moves forward in drive, but then the engine just races when it tries to shift to 2nd, then its probably a broken front band (which is the element that applies 2nd gear).
If it won't move forward in any forward gear (D, 1, 2) but will back up, then its probably the "forward" clutch (actually the rearmost clutch in the transmission) that has gone out, since that clutch is required for all forward gears.
Since this is a 2000, its got a 4xRE which is an A727 with an overdrive added. The above diagnostics are just for the A727 part, I'm not positive what happens if there's a failure in the O/D unit behind the 727. I'm also not 100% positive what happens if a 4xRE loses its "governor" input from the computer, either because of a bad speed sensor, bad connection, or bad governor pressure solenoid.
At any rate, if you rule out the basics (fluid OK, does it move in 1 but no other forward gears, etc.) then its going to take a full evaluation to figure it out.