i hadn't submitted the return yet, so didn't have to create a new file, but still showing the error, so i followed TaxGuru1's steps / protocol here (Thanks, TaxGuru1! - we hope!), which are the following (with my "FL:..." add-ons with a few more details in parentheses) --
1. PPP Section say No (FL: Done: this Section is found in the "Business Info" tab, on a page just bit after the big page of "nos" of unusual situations for your Corp.)
(1.5 FL: But before doing TG Step 2 below, i went to Forms and first entered my PPP forgiveness amount into the PPP Loan Stmt form, which was showing an incomplete red Exclamation Point; then i closed this form;)
(FL: Then i did a re-check of our Corp's federal review; which showed no errors;)
FL: then i recompleted the State Taxes tab, which required me to enter in my PPP forgiveness amount again for the state; then ran the State review again, which showed no errors;)
(FL: then i tried Step 4 below, but this resulted in the error again; so i recompleted all these steps above, and it looks like my entering the PPP amount into the PPP Loan Stmt form had re-set to no entry that TT page on the Business Info worksheet (TurboTax: please fix this glitch 🙂 ; so, the second time i -- )
(FL: jumped to Step 5 below, and showing no errors, saved, (printed what i needed to), and submitted; hoping, hoping, hoping;)
2. Go to Forms 1120 pg3-5, M-1 Enter PPP Forgiven $Amount
3. Finish the Income & deduction sections. Do not enter anything for the Interest Income in my case.
4. Go back to PPP Section say Yes and enter the PPP Forgiven $Amount
5. Check for Errors, Save and submit
Thanks again, TaxGuru1!
