the LLC was a partnership (1065 k-1) or s-corp (1120s k-1) or maybe even a trust (1041-k1)
the k-1gets reported on your 1040 (some online versions of Turbotax do not handle k-1s you'll need premier or home and business. The loss will flow to the proper form/schedule on your 1040
did you sell the LLC or was it really liquidated and you received your share of the money left? might affect any gain loss on disposition. In theory, what you got in liquidation should be your tax basis thus no gain or loss but if you really sold your interest you could have additional gain loss = to sales proceeds less any selling expenses less your tax basis
i assume the K-1 is marked final. Therefore to stop the K-1 from popping up next year you must indicate there was a complete taxable disposition in Turbotax. This will also allow any passive losses that were suspended to be released. there's a link to enter disposition info
