I took funds from a retirement fund and put them in an IRA Fair Market Value. Do I need to add that money in the Traditional IRA contributions area?

If you took money from your retirement fund and put it into an IRA, within 60 days, this is considered a rollover, so no, you do not have to enter it in the Traditional IRA contributions area. See how to enter a rollover below.

To enter your 2016 1099-R rollover:

• Type 1099-r in the search box and click search.
• Click on Jump to 1099-r.
• At the choose your bank or brokerage screen, click on I'll type it in myself.
• Enter your 1099-R form exactly as shown. If the form has Box 7 with code G, Rollover, TurboTax will automatically enter it as a Rollover on your income tax form.
• If you form does not have Box 7 with code G, Rollover, on the What Did You Do With The Money From This Payer? screen, click on I moved the money....  and I rolled over all of the money... 
• Continue with the onscreen interview.

See the screenshot below.

Related information:

• Where do I enter an IRA rollover?
• What's the difference between a direct vs. an indirect rollover?