To report the K-1 in TurboTax, you go to

• Wages & Income
• Business Items
• Schedule K-1

As you go through the screens, TurboTax you will see a screen titled Describe the Partnership,  pick the 4th option, Disposed of a portion of my interest in the partnership during 2019.

The next screen asks you more information about the sale.

You report the date you originally purchased your interest and the date you sold your interest.  

Then the program asks about the sales price and other information to do with the sale.

The difference between your basis in the partnership and the amount you sold it for is Long Term Capital Gain/Loss, if you held the investment for more than 1 year, or Short Term Capital Gain/Loss if you held the investment less than 1 year.

@fsab

@fsab -- Don't enter the sales proceeds into the K-1 interview. 

Here's a long thread on how to correctly enter the info into TT:  https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/how-i-report-the-sale...

There's lots of info and examples in the comments as well.

But as a starting point, here's the instructions that TT provides if you right-click the Sales Price box and pull up "About Part II, line 5":

"NOTE: If this is a disposition of a publicly traded partnership (PTP) or a master limited partnership (MLP) that was reported on a Form 1099-B, enter zero for both the sales price and the basis on lines 5 and 7 here and report the sale as normal on Schedule D, checking the appropriate "Reported on 1099-B" Box A or Box B. By reporting the sale of the PTP or MLP on Schedule D and entering zero as the sales price and basis on this K-1 Worksheet, the disposition will get processed correctly throughout the return."

Unfortunately, the above only works when handling a complete disposition that was entirely short or long term.  For partial dispositions, or mixed long/short, you've got to go with the info on the thread above.