You can only import a K-1 to the Windows Desktop CD/Download Software, not to Online version and if you can get a .txf file for it and in the right format. Apparently you can only import K-1s for MLPs and not Trusts or Estates. You can not import a K-1 from Turbo Tax Business Program.
To enter a K-1 go to
Federal Taxes Tab or Personal (Home & Business version)
Wages and Income
Scroll down to S-corps, Partnerships, and Trusts or to Business items
Schedules K-1, Q - Click the Start or Update button
Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S
Enter each k-1 separately.
