Mike9241 provided a good link with all the information you would need to enter a K-1 received. Please keep in mind you will need the Premier version of TurboTax to enter K-1 information. If you could not accurately follow the instructions provided by the link, please follow these steps to enter the information that shows on your K-1:
On the left side of your screen, click on Wages & Income
Scroll down towards the bottom and locate S-corps, Partnerships, and Trusts, and click show more, and then Schedule K-1
Choose the type of K-1 you received and click on Start
Enter the name, ID number, address and such and click continue
If the K-1 entity is a retirement plan, check the box and click continue, if not just click continue
click in the circle for type of partner listed on the K-1 (limited partner, general partner, whichever)
Next is normally a domestic partner
If the K-1 shows the percentages being asked for on the next screen enter them, these would be shown in Box J, if not just click continue.
Same if shown in Box K
Enter your Capital account information. This is usually on all K-1's and shows in Box L
Enter the remaining information asked for based on the line by line items on the K-1
After all entered and you click Done you will return to the Income summary page.
Box J below:
Box K below:
Box L below (numbers are for example purposes only):