Investors & landlords

Since you are getting a share of profits, this would be considered a partnership, so you should be filing form 1065, the partnership tax return. Once that return is complete, a schedule K-1 would be generated showing your share of profits. You would enter that information in TurboTax  and it would show up as taxable income on schedule E, page two. It will be considered passive income if you indicate on the K-1 schedule that you don't materially participate in the business.

If you didn't file the partnership return, the only other place you could enter it in TurboTax would be as "Miscellaneous Income" as shown here:

That might not result in the proper treatment on your tax return, however, since it will be not be treated a passive income.