In a 6-qt. stockpot, cook and crumble turkey with green pepper and onion over medium-high heat until no longer pink, 5-7 minutes. Stir in seasonings; cook 1 minute.
Stir in tomato sauce, beans, corn, tomato and water; bring to a boil. Reduce heat; simmer, uncovered, to allow flavors to blend, about 10 minutes, stirring occasionally. If desired, serve with cheese. Freeze option: Freeze cooled chili in freezer containers. To use, partially thaw in refrigerator overnight. Heat through in a saucepan, stirring occasionally; add a little water if necessary.