No, Schedule K-1 information can't be imported, it has to be entered manually.
desktop deluxe allows it for those partnerships that have signed up with turbotax. mostly these are publicly trade partnerships.
So no download capability. TurboTax needs to work on that. Since all the entries on the K-1 form are identified, it should be doable. Even when there is more than one business income, like business income, and real estate income, and when the partnership owns sub partnerships, causing multiple K-1 forms to be generated for each sub-partnership, that info is on the K-1. Also, one of my K-1 forms had a downloadable for TurboTax formatte, but with about 1/2 of the data fields listed as not importable into TurboTax. All the data fields are coded, so it shouldn't be too difficult.
Most k-1's are available on taxpackagesupport.com for downloads to turbotax. Just go there, create an account, navigate to the list and select your issue. You may have to verify your identity. In most cases you will have received a K-1 from your broker and you can input the specific account number (for that k-1) to proceed.
Entering K-1 info from taxpackagesupport.com directly into Turbotax:
First, determine if the particular file you want to download to turbotax is indeed available for that function (most of them are but I had one that was not). If you see three vertical dots to the right of the file line, click those dots and you will see the option to download the file to turbotax. Choose that option and then click download. (This action does not immediately download the file directly into turbotax. It only downloads it into your desktop program's download folder). And It will not name the file, it will only give it a number such as “turbotax-2.txf” (note the hyphen--don't lose it). If you want to keep your files straight in your downloads folder for future clarity, immediately go to your downloads folder and rename that file by substituting only that number with a name that will identify the file for you later, for example, “turbotax-name.txf”. Okay, so now you’ve got the txf file downloaded to your downloads folder.
To import the TXF file to Turbotax-- I have a Mac, I assume a PC is similar
Make sure Turbotax is open
Click on the File Menu of your desktop program screen—NOT the file menu in Turbotax). See the "Import" option and from there you should see "From TXF file." Choose it.
Assuming you have turbotax already open, a screen will pop up on Turbotax asking you where to get the tax information. Click "choose a file." Go to your downloads folder and choose the file you want to download. When imported to TT, check all the info! I've learned that in box "20" of your K-1, if there is an asterisk followed by STMT (statement), you will have to manually input that information from your statement.