Can you file a Schedule K-1 (Form 1041) on a personal tax return? It's an inheritance from an IRA/Living Trust.

is your name and SSN appearing in part II of the K-1? if yes, then you must include it on your 1040

Yes it is – but TurboTax Help states this form has to be filed using the Business version of their platform, and I was hoping to claim the inheritance/IRA amount on our personal return.

Yes.  If you get a K-1 from an estate, you will need to enter it on your personal return. You can enter the K-1 from the trust in TurboTax by selecting the following:

1.Federal
2.Personal Income
3.I'll choose what I work on
4.Start next to Schedule K-1 under Business Investment and Estate/Trust Income near the bottom of the screen
5. Yes to did you receive one
6.Walk through to enter your K-1