Hiii my iPhone Is gone off because water got into it and it’s permanently damaged. Do I just throw it in the trash?

If all you want is to dispose of it and not do an out-of-warranty replacement take it to your nearest Apple Store and they will recycle it.

Apple has a set price to replace iPhone models in many countries.

Water damaged devices must be replaced because they can't be repaired.

Take it to a recycle center and an Apple Store to dispose of it properly.