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Yes, a passive loss that is carried over from an investment is entered during the interview for the Schedule K-1.
The easiest way to find the appropriate section of TurboTax is to go to Tax Tools in the left column then choose Tools >> Topic Search. Type in "schedule K-1", then click the topic in the list that applies and go directly to the start of that section. If you're using TurboTax Desktop, use the search box instead.
Choose the type of K-1 you need to work on, then click "Edit" beside the actual K-1 you need to review. (Add a K-1 if you have not already entered this investment.)
Look for a question like "I have passive activity losses carried over from last year." Check the box and TurboTax will ask you for the carryover amount later in the interview.
See also How do I report a business loss or carryover from my K-1?
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