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Level 3

Out of 3 partners, only 2 partners shared the loss and there was no loss shared to the 3rd partner inspite his share was mentioned?

 
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Level 19

Out of 3 partners, only 2 partners shared the loss and there was no loss shared to the 3rd partner inspite his share was mentioned?

partnerships are weird entities. best if there were a written and signed partnership agreement, but many operate without one  it's possible that the partners agree that if there's a loss only 2 partners get it whereas if there is a profit one partner gets 75% the second 15% and the third 10% one year and the next there's a different allocation.     

 

if your talking about part II schedule J.     professional software allows entering alpha info such as as req,  var etc. or even does the calculations if specific amounts are used.   don't know if TT has this feature.     you can always go in to the partners info to change the %'s.  

 

if you are saying that the loss is being allocated wrong and that all 3 partners should share in the loss, then there are probably specific allocations that will have to be eliminated or changed.  

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Level 20

Out of 3 partners, only 2 partners shared the loss and there was no loss shared to the 3rd partner inspite his share was mentioned?

As @HACKITOFF mentioned, the allocations could be in the partnership agreement and the circumstances surrounding such partnerships are, indeed, weird.

 

TurboTax Business (which can be used to prepare a Form 1065 for the partnership) can handle special allocations but I would absolutely not recommend trying to do so without professional guidance, at a bare minimum. 

 

You would be well-advised to consult with a tax/legal professional who is experienced in partnership taxation and related matters.