Any K-1 experts? The software won't accept the Passive Operating Loss entry on the K-1 form. Does this mean I have the wrong product (i.e. I need TurboTax Business)?

[PatriciaV]

If you are entering a Schedule K-1 from your investment, follow these instructions: Where do I enter a Schedule K-1 that I received?

When you're finished entering the Box codes and amounts, continue to the page ""I have passive activity losses carried over from last year." Check the box and TurboTax will ask you for the carryover amount later in the interview. Long-term Capital Losses are entered on the page "Any Other Carryovers?"

TurboTax Online Premium can accept Schedule K-1 entries, as can any version of TurboTax for Desktop.