If you have a file that invokes a macro and you include! it, the following happens:

main.rs

fn main() {
    macro_rules! my_macro {
        ($name:expr) => {{
            printn!("{}", $name);
        }}
    }

    include!("helper.rs");
}

helper.rs

my_macro!("foo");
my_macro!("bar");

STR

$ rustc main.rs
$ ./main
foo

Expected output

Should print foo and bar, just as if the code would have been inlined.

Tested with latest nightly and stable:

rustc 1.12.0-nightly (080e0e072 2016-08-08)
rustc 1.10.0 (cfcb716cf 2016-07-03)