Business & farm

SuperUser Lisa995 is absolutely correct.  Enter all the information from the K-1 into your return.  You can do this following these steps:

1. Click on Federal > Wages & Income
2. In the S-Corps, Partnerships, and Trusts section click on the box next to Schedule K-1.  [Screenshot #1, below.]
3. Click Yes on the next screen, Did you receive any Schedules K-1?
4. On the Tell Us About Your Schedules K-1 screen.  Click on the Start/Update box next to the type of entity (trust/estate) that issued the K-1.   [Screenshot #2]
5. If you have already entered K-1 information, you will see a Summary screen.  Click Add Another K-1 to enter your information  (or click on Edit to continue with the existing form entry).  [Screenshot #3]
6. If you haven't started entering K-1 information, continue through the screens, entering the requested information.