topic Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions? in Get your taxes done using TurboTax

Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

Rex Kenyon — Mon, 09 Mar 2026 06:12:44 GMT

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

Rex Kenyon — Sat, 12 Feb 2022 17:49:48 GMT

I should have mentioned that the M-1 Form is not required, but keeps returning after I have deleted the form.

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

Anonymous_ — Sat, 12 Feb 2022 17:54:38 GMT

Is this an S corporation? If so, make sure you answer “Yes” to question 11 on Schedule B.

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

Anonymous_ — Sat, 12 Feb 2022 17:59:22 GMT

If this is a partnership (or multi-member LLC), the relevant line is Line 4 of Schedule B on your 1065.

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

Rex Kenyon — Sat, 12 Feb 2022 20:14:26 GMT

It is an S Corp, and question 11 on schedule B is (and was) marked yes. The box is also marked to suspend the schedule L and M1 calculations.

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

Rex Kenyon — Sat, 12 Feb 2022 20:15:08 GMT

S Corp.....not partnership or LLC

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

Anonymous_ — Sat, 12 Feb 2022 20:35:20 GMT

You might want to go back through the About Your Business section in the Business Info tab.

If you still cannot resolve this, you should contact Support.

What is the TurboTax phone number? (intuit.com)

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

mlung — Sun, 20 Feb 2022 00:50:00 GMT

I am getting the same error. What is question 11 in Schedule B, and where can I locate it in TurboTax Business?

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

Anonymous_ — Sun, 20 Feb 2022 00:51:33 GMT

Enter Forms Mode and look for Schedule B on your 1120-S.

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

dmdmju — Mon, 21 Feb 2022 20:52:09 GMT

This is what I did and seemed to work:

1) Went to Forms View > Form 1120S p3-5

2) Scrolled down to Schedule M-1

3) Section F (Use amount on line E for Schedule M-1, line 1?): Clicked "No"

4) Section 1 (immediately below): Manually entered the income from Section E above

Good luck.

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

dmdmju — Mon, 21 Feb 2022 20:53:32 GMT

This one I can't seem to locate though I think this error has been resolved... Curious to know where this is though, as I can't go to Schedule B question 11 for some reason.

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

Anonymous_ — Mon, 21 Feb 2022 20:59:40 GMT

Are you using Forms Mode?

1120-S pg 1-2

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

Rex Kenyon — Mon, 21 Feb 2022 22:20:59 GMT

Box was improperly checked stating to use a value on the form. Unchecked box and problem is resolved. Box appeared have been checked as the default and had to be unchecked.

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

jtnum — Wed, 09 Mar 2022 23:47:21 GMT

Yea team. Great, this worked. What a pain until I found your answer. Thanks for taking the time to do a step-by-step resolution

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not have any but it will not accept zero. Any solutions?

amy_nacnud — Mon, 14 Mar 2022 15:41:49 GMT

Thank you so much!! I kept getting errors with zeros being auto-filled and your suggestions cleared my problem!

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not...

CarissaM — Tue, 15 Mar 2022 20:15:54 GMT

We are happy to hear you were able to resolve the issue! Please let us know if you need additional assistance.

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not...

Digger109 — Tue, 07 Mar 2023 04:45:29 GMT

FYI, there was a difficulty associated with the 2021 version of TurboTax Business that might cause the OP's problem if you claimed a PPP loan forgiveness in the BUSINESS INFO section of the interview process.

Following the steps in the following link got rid of the problem for me: https://ttlc.intuit.com/turbotax-support/en-us/help-article/payroll-protection-program/change-ppp-loan-imported-quickbooks-nontaxable/L5N3qvz8V_US_en_US

Re: Keep getting M-1 Form error in Turbotax Business - Tax Exempt Interest out of state. I do not...

CarissaM — Tue, 07 Mar 2023 16:28:50 GMT

You are commenting on an older thread. Is there anything we can assist you with? @Digger109