Yes, you should file for an extension if any of your needed tax information, including Schedule K-1, won't be available by the April 15th deadline.
If you file for an extension, include payment of any estimated taxes due. Use your best estimate. The extension is only to allow you to file up to 6 months after the deadline and not be assessed a late filing penalty. It doesn't extend the time to pay your tax.
See this tax tips article for more information from TurboTax regarding extensions.
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