Bought stock and received K-1. Did not sell stock. Using TurboTax Deluxe. How to document k-1 data using Turbotax or manually?

[WhoCreatedThisMess]

I bought a stock (Cedar Fair, FUN) in 2021 that is a publicly traded partnership. I did not sell it. It pays no dividends. I received a k-1. Box 1 shows a loss of about $200.  This my first time encountering this form and the headaches it is causing me.  I am using Turbotax Deluxe; I cannot find the k-1 form in there to try and use the software to better navigate what exactly I need to do to (if anything, since I did not sell the stock).

I have received conflicting answers from Cedar Fair and former tax professionals/individuals (i.e. "I cannot provide tax advice", file the k-1/1065 and numerous other forms, just add a line on your schedule e, contact a CPA, hire a tax professional,  don't do anything, etc).  I even called the irs help line (don't bother, once you get to the right place, the automated voice tells you to goto irs.gov and find the answer...so ridiculous).

Some questions:

1) Do I need to include this k-1 in my tax return since I just bought the stock and did not sell it?

2) If I do need to include it, do I need just one form (e.g. 1065) that I can download from irs.gov or are there multiple forms needed?

3) If using turbotax, can I use deluxe to document this? If not, what version do I need to upgrade to?

This seems to be such a complex issue considering I just bought something.  I am considering mailing my return if I just need to download/complete one form from irs.gov (I'll print out what I have in deluxe just to end this nightmare).

I'd appreciate any advice the community could give that can help me best resolve this quickly.  Thanks in advance...

[Critter-3 · Accepted solution]

To enter a K-1 you will need to be using the Online Premier version or any version of the downloaded program.

To enter a K-1 go to 
Federal Taxes Tab ( Personal in the H&B versions )
Wages and Income
Choose Explore on my own or I'll choose what to work on  (if it comes up)
Then scroll way down to Business Items
 S-corps, Partnerships, and Trusts.  Schedules K-1, Q - Click the Start or Update button 

Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S

[WhoCreatedThisMess]

Thank you Critter-3. I found the section and completed the wizard prompts.  Wish I saw that weeks ago lol! It was pretty easy.

Looks like what I typed into it did not alter what turbotax calculates as my refund.  This makes sense to me, since I did not sell the entire stock.  But, since there was a -$200 business income loss in Box 1 of my k-1 1065 form, do you know if should I have seen something different?