Multiple IF not working but if it is separated they are working

Condition 1

If Termination Date field empty = Active;

If Termination Date is before TODAY = Inactive

I tried the below in excel, it was working then it is not working in Smartsheet when lump together but separating the formula, it works!

Please help!

My formula is:

IF([Termination Date]@row=0, "Active", IF(TODAY()>[Termination Date]@row,"Inactive","Active"))


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