Generally, an LLC must prepare a form 1120 tax return. Part of this return is the creation of a K-1 form for each owner/shareholder. The LLC return can't be prepared in personal Turbotax. It can only be prepared using Turbotax for Business, which is only available as a download for PC (it is not online and not for Macs). The K-1 can be entered in personal Turbotax Deluxe on the "Wages and Income" page.
If you have a single-member LLC, you have the option of treating it as a "disregarded entity". This means you report it as a personal self-employment business on schedule C instead of on a corporate return. See here. https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-compan...
If you want to treat the LLC as a disregarded entity, you must upgrade to Turbotax Self-Employed version (online) or Turbotax Home & Business (installed on your own computer) so you can report your business income and deductions on schedule C.
