It depends. If you need to generate the Schedule K-1 in TurboTax for your S-corp, then yes, you will need TurboTax Home and Business to file your corporate return and produce the K-1. However, you will not need to pay a separate fee for your personal return because the desktop version can e-file up to five returns through the program. You also may import any information you have entered into the online program. Here is an FAQ to assist you: https://ttlc.intuit.com/replies/3302260
If however, your business return is prepared elsewhere and you only receive Schedule K-1, you will not need to use the desktop software (although you may choose to do so). You may use the online version to enter your K-1. Here is an additional FAQ on this: https://ttlc.intuit.com/replies/3301717
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