Will turbo tax prepare Form 1065 for my LLC at the same time and on the same account as my Form 1040?

Yes it is separate .   You need to buy Turbo Tax Business, not to be confused with the personal Home & Business version. Home & Business is just for personal returns that need schedule C for self employment. TT Business is not available to do online or on a Mac. You can buy the Windows Desktop program here,
https://turbotax.intuit.com/small-business-taxes

You can have both a personal program and the Business program installed on the same computer at the same time.

You will get a W2 or K-1 from the business return to enter into your personal return. So you will need to do the Business return first.

Window System Requirements
https://ttlc.intuit.com/community/system-requirements/help/minimum-system-requirements-for-turbotax-windows-software/00/26175

See https://turbotax.intuit.com/small-business-taxes

You need to prepare your 1065 using TurboTax Business and then use a TurboTax individual income tax preparation product in order to prepare your 1040 and include the K-1 (1065) from your LLC.

The personal editions of TurboTax cannot be used to complete and file a Partnership tax return, Form 1065.

You will need the TurboTax Business Edition for the 1065.  The Business edition can only be installed on a Windows based personal computer, not on a Mac or online.  The Business Edition cannot be used for a personal tax return, Form 1040.

Go to this TurboTax website for the Business Edition - https://turbotax.intuit.com/small-business-taxes/

The Business Edition will create a Schedule K-1 which is entered on your personal tax return.