This is how I worked around it (after countless hours of trying) For S-corps that DO NOT complete Schedules L, M-1 and M-2:
Under business info - PPP Loan: answer yes and input info for PPP Loan (Turbotax quick fix advises to answer NO as their step one to fix)
In Forms: Sch M-1 Wks shows error. Click on “Sch M-1 Wks” Enter zero in the per books column for Tax-exempt interest AND for the first line under “Other permanent income items” No description needed. this causes error to disappear!
For the PPP Loan Statement:
in Forms click on Form 1120S p3-5 Scroll down to where your Forgiven PPP Loan shows and click on QuickZoom to required PPP loan forgiveness statement and complete the info to generate the statement
