"Can  Turbotax Business be used to file both my 1040 and irrevocable trust forms K1 and 1041?"

No. In order to prepare Form 1041 for a trust, and the associated K-1(s), you would have to purchase a copy of TurboTax Business (which must be installed and run in a Windows environment; it is not available as an online product nor will it run natively on a Mac).

However you would still need a TurboTax personal income tax preparation product since TurboTax Business is not capable of preparing individual income tax returns (it can only prepare returns for entities).