You do need to add the K-1 to your return. Doing so will allow TurboTax to take the entries from the K-1 and put them in the right places on your return to report your income and deductions from the K-1.
When you read the instructions that say, "Do not file it with your tax return..." it is referring to actually attaching the paper copy of your K-1 to your Federal return and mailing it with your other tax forms if you were filing by mail.
