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]

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

[Anonymous_]

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

[Anonymous_]

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

[Rex Kenyon]

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.

[Rex Kenyon]

S Corp.....not partnership or LLC

[Anonymous_]

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)

[mlung]

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

[Anonymous_]

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

[dmdmju]

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.

[dmdmju]

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.

[Anonymous_]

Are you using Forms Mode?

1120-S pg 1-2

[Rex Kenyon]

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.

[jtnum]

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

[amy_nacnud]

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