You can avoid the immediate income tax consequences by rolling over all or part of the loan’s outstanding balance to an IRA or eligible retirement plan by the due date (including extensions) for filing the Federal income tax return for the year in which the loan is treated as a distribution. This rollover is reported on Form 5498.
Please read this IRS document for more information.
When you rolled over as above, in TurboTax, after entered your form 1099-R, please indicate that you rolled over to another retirement account when asked What did you do with the money? in the TurboTax interview.
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