Is your LLC owned by more than one person? If so, you cannot report the LLC expenses directly on your Form 1040 return because they should be shared with the other owners. Reporting income received and expenses paid by the LLC is the purpose of the 1065 return.
Note that Mike9241's quote is from the IRS Instructions for Form 1065 Schedule K, not for individual Schedule K-1s. If correctly entered, guaranteed payments flow from the 1065 to the K-1s. These payments can be entered in TurboTax Business under Federal Taxes >> Deductions >> Compensation and Benefits >> Guaranteed Payments.
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