If you are using the CD/downloaded Premier or Home and Business version of TurboTax (not the Online version), then a K-1 may be imported as long as it is in the .TXF format.
Go to the top line menu and select File > Import > From Accounting Software > Other Financial Software (TXF file).
Otherwise, use the information in the following TurboTax article to enter the K-1 information manually:
Where do I enter a K-1 that I received?
@sgiitb85
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