PTP K-1 entry passive losses

[rcgilleland1]

How do you enter passive loss carryovers from a K-1 for a PTP? Where do you find the info for Box 1 and Box 2a?

How is that different from a regular partnership passive loss carryover entry and a real estate passive loss carryover entry?

Thank you for any advice.

[Mike9241]

for a PTP each k-1 worksheet has an area where PALs are entered. if you used Turbotax in the prior year and rolled/transferred it into the current year the PAL should be there.  note that Turbptax does not allow filing a k-1 with entries on multiple lines 1,2 or 3. each must be entered on a separate k-1 along with any other lines that pertain to lines 1 2 or 3.

if online you should be asked about them. in desktop, if you use step-by-step you'll be asked about them. if you use forms mode it's up to you the enter the PAL c/o's in the proper area on the worksheet.

PALs for PTPs are special. they can only be offset by income from the same PTP (not any other passive activity even another PTP) or they're freed up upon complete disposition in a fully taxable transaction 

not sure what version you using. some basic online apps do not support k-1 entries. all desktop versions do.