My tahoe has the traction off light what doe that mean?

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Transaction? I never seen that. When do you see this come on?
Does it go off or stays on all the time?
I can only think of 2 things:
Traction as in traction control unit goes active meaning it wont slide the rear end under power on rain or snow etc...
Or I have seen an option for towing a trailer where there is a button usually at the end of the shifter lever.
Both of them are ok to have a lite on, if you were to have a problem with transmission you would have the check engine light on and maybe the transmission switch light blinking.
Check you owners manual for a reference of this light.

Do you mean 'traction control active'? There is no 'transaction'. Traction control is what keeps your wheels from spinning freely, like in mud, and instead activates 'traction' for your tires, helps them find 'traction' rather than going crazy!

Traction control helps by controlling the engine power to the drive wheels to prevent wheel spin. When traction control is OFF then you can apply all power to the drive wheels and it could cause loss of control and or wheel spin.

{: ) Most of the time the traction light is being triggered by imminent or pending engine trouble codes. If the engine issues are addressed first, the traction light may normalize eventually. A scan tool code search is the first best option for a quick diagnosis.
For the time being. you can do observations and take notes on whatever symptoms you may find about your vehicle performance, specially on the road. The more info you can share about the trouble, the better, because for the technicians, it will be a lot of help in their diagnosis.

Your traction control switch may be located on center IP fascia. below the front a/c control switch. Pls check your manual. You can turn it on or off and it will indicate visually on the insrument panel cluster. Normally the default mode is off,(traction light off) meaning the traction system is enabled and operational. If the light comes on while the engine is running and even without touching the switch, it only means that your traction control system have been disabled because the system has detected a fault; you can still run and proceed carefully in good brakes without the traction control system..However' you still need to have your vehicle scanned for codes to know the specific cause.

No you will not "harm" the vehicle.

1. The ABS fault light will mean that the anti - lock braking facility is not working. However the conventional braking system will continue to operate. Bear in mind that you now have no system that prevents you from locking up your brakes so it is all down to the driver.

2. Traction control (TC) warning. The TC function will not be working or not working as programmed. There should be a TC on/off switch or button in the vehicle. Make sure you manually disable the TC by switching the TC OFF until the problem is identified and rectified.
TC is a useful driver aid, especially in slippery road surface conditions, so take extra precautions when driving without it.

Even in good conditions the Tahoe is not a vehicle that handles well.

3. You should get the vehicle checked for the ABS and TC problem. It may only be some faulty sensors that require replacing but a proper diagnosis needs to be made.

traction cotrol problem take it to the dealer

You need to get the vehicle scanned for codes, once you have the codes you can determine the severity of the issue