Business & farm

If your K-1 is from an 1120S (S-corp), then you do have to fill out the S-corp worksheet.  It'll have 

Schedule K-1

Form 1120S

 in the upper left-hand corner.

If your K-1 is from a 1065 (partnership) or 1041 (estate or trust), then you need to enter it into that section of Turbo Tax.