That amount is one component of your Qualified Business Income (QBI) deduction. Your K-1 will have an attached Section 199A Statement with the amounts needed to calculate your QBI deduction. The info for your QBI deduction is associated with Box 20, Code Z - Used for Partnerships (Form 1065).
Once you enter your K-1 information into TurboTax, the QBI deduction will be automatically calculated for you. See this TurboTax FAQ
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