Yes, you need to report your bonus. Enter your W-2 exactly as you see it. Don't change anything or delete amounts from any boxes. Even though you claimed exempt for your bonus so your employer wouldn't take tax out of it, it's still taxable income, which is why it's included in box 1 of your W2.
Refer to the TurboTax article How Bonuses Are Taxed for more information.
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