Yes, you will need to upgrade to either Premier if you received a Schedule K-1; Deluxe and Free don't support this form.
Once you have upgraded, to enter it in TurboTax:
- In TurboTax search bar type in K1 or K-1 (with or without the dash, upper or lower case K).
- This will take you to the Schedules K-1 or Q screen. Answer Yes and follow the prompts.