Potion
New Member

Business & farm

I got the same error - The reason was if you import last year tax you must go back and click on the PERSON tab >>> PERSONAL INCOME >>> scroll down to BUSINESS INVESTMENT AND ESTATE/TRUST INCOME and click on update SCHEDULE K-1.  Update your Form 1120S >>> EDIT >>> Is this information correct? click on NO - Even it is, keep click on continue until you get to the box "Enter percentage of ownership from box G" enter the correct info and continue. Next box for some reason default by TurboTax the first box is checked!!!! "This S corporation ended 2021" this is why you got the smart check error. If you didn't sell your business check "None of these apply".  This should fixed the error.