Yes. You will need to report this, but you will note that it will not be taxed as income. There is a place on the tax return (box 11a on Form 1040A and box 15a on Form 1040) where this information is reported. But it does not carry over to the taxable income side of the return. By inputting this information onto your return in TurboTax, you will reduce the possibilities of a delay on your processing or refund.
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