To complete a Schedule K-1 and your business is a Partnership, C Corp, S Corp or multi-member LLC you would need to purchase the TurboTax Business Edition. The Business Edition can only be installed on a Windows based personal computer, not on a Mac or online. The Business Edition cannot complete a personal tax return, Form 1040. Go to this website for the Business Edition - https://turbotax.intuit.com/small-business-taxes/
To enter a Schedule K-1 received on a personal tax return you would need to use either the Premier or Self-Employed online editions - https://turbotax.intuit.com/personal-taxes/online/
To enter a Schedule K-1 received on a personal tax return you can use any of the desktop CD/Download editions - https://turbotax.intuit.com/personal-taxes/cd-download/
