machine needs to be serviced. if its been sitting the when you run it sometimes it will tighten up the more you run ir and the smoke is usually oil varnish on the motor. It gets hot trying to turn the machine
Once you open the top cover you can observe by turning the wheel manually where is the actual clutch mechanism location (by switching bobbin winding off and on). Once you see small dark element moving slightly on the inside of the wheel, drop a bit of oil on it and switch back and forth clutch by turning small knob. After few tries clutch started working perfectly.
Everything is fixable, you have a top class machine!
When was the last time is was served, cleaned and lubricated? They need doing every 2 years if you use them or not. Every joint and sliding part needs one drop of oil once a year.
I have a 2056. I open the little door with the red light and closely watch my top thread for when it stops catching a bobbin thread until it is used up. I stitch more slowly but at least not annoyed and not wasting thread. Dawn Illinois