Go through the Review section in TurboTax (left side menu) - It will clear up all loose ends. Once TurboTax tells you that your return is ready to file and clear of any errors, the box should be checked. There are other sections of Schedule C that you are to go through before the form will be finalized (and 32a checked).
Other things you might want to check in your business's General Profile are:
Did you indicate you actively participated?
Did you are subject to DOT limits?
Did you indicate you have assets that are Indian Reservation property?
Did you indicate your business is in a disaster area?
Did you acquire Kansas Disaster Zone or GO Zone property?
Marking box 32a will aid in applying the At-Risk Limitations to business losses. Before the IRS implemented at-risk limitations, investors in certain business activities—especially real estate—stood to profit more from losses and tax deductions than from investments gains.
To prevent investors from benefiting from purposeful bad business deals and to promote investments in credible business ventures, Congress acted to limit the deductions investors could take when facing business losses.
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