Yes, there is. Enter your K-1 in TurboTax using these instructions. During the interview, you will be prompted to enter the information from the K-1 and TurboTax will generate a K-1 worksheet.
Code Z amounts are entered in the Other Information box (could be Box 20, 17, or 14 depending on the type of K-1 you have). After you make an entry in the Other Information Box, the next screen will allow you to enter the details (code Z information).