It depends.
The amount reported on line 10 of your Schedule K-1 is for an estate tax deduction but it flows onto your personal return as part of your itemized deductions, specifically Schedule A, line 16. However when you prepare your tax return, if your standard deduction is higher than your itemized deductions, you would not receive the benefit of this tax deduction as you are already getting the higher standard deduction amount.
Please see Standard Deductions vs. Itemized Deductions for more details on the differences between each type of potential deduction. TurboTax will select the option that provides the greatest tax benefit for your particular situation.