It's not yet fully implemented for income from partnerships and S corps, but progress is being made. It appears that with today's release the it's now possible to make the necessary entries in forms mode, but it's not yet supported in step-by-step mode. I would not trust the results from entering in forms mode; TurboTax's accuracy guarantee is void with respect to errors on your tax return related to making entries in forms mode.
Given the progress, there seems to be a good chance that next week's release will have the full implementation, still before the January 28 opening day for filing with the IRS.
