Yes, you can enter Schedule K-1 Box 20 Code AJ using the step-by-step interview in TurboTax Online or Desktop. It appears the recent update removed the follow-up questions. Your best option is to add more than one line for code AJ if you have two or more lines in the Supplemental Information that came with your K-1.
How you use this information is left for you to determine and enter as appropriate. Note that Code AJ is for Excess Business Losses, which would be used only if your net losses from all businesses are more than $289,000 ($578,000 if filing a joint return). If this doesn't apply to your tax situation, you may completely omit the Code AJ entries.
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