Heat the oil in a large pot or deep skillet over medium-high heat. Add the ground turkey and onion and cook for 6–7 minutes, breaking up the meat, until browned. Drain excess fat if needed.
Stir in the taco seasoning and cook for 1 minute.
Add the rice, diced tomatoes with their juices, black beans, and broth. Stir well and bring to a boil.
Reduce the heat to low, cover, and simmer for 18–20 minutes, until the rice is tender and most of the liquid is absorbed.
Remove from the heat and let sit, covered, for 5 minutes. Fluff with a fork.
Sprinkle the cheese over the top, cover for 2–3 minutes until melted, and serve with your favorite toppings.