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It depends. For a partnership, in TurboTax Business you will go to the Business Info tab, and select the Shareholder/Partner Information link. You will be able to select a box to indicate a partner has left the company this year.
Similarly, for a shareholder in an S-Corporation or C-Corporation, in TurboTax Business, go to the Busness Info tab, and select the Shareholder information link. You will be able to indicate this was the last year a shareholder had shares in the Corporation.
I’m using the self employed edition not the business edition.
When you are in TurboTax this question is asked when you begin the K-1 entry (1065-K1 or 1120S-K1, etc)
Below are the initial screens asking about whether this ended in 2020.
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