In this case, in 2024 the plan satisfied the loan with a qualified plan loan offset distribution that reduced your balance in the plan. This distribution is reportable on your 2024 tax return, not on your 2023 tax return.
As a qualified plan loan offset distribution, you have until the due date of your 2024 tax return, including extensions, to come up with some or all of the funds and make a rollover to another qualified retirement account like a traditional IRA. To do that you need to inform the custodian of the account receiving the rollover that it is a rollover of a qualified plan loan offset distribution. You would then report the rollover in 2024 TurboTax by indicating the amount of the distribution that was rolled over.
