Why cannt I deduct losses on K-1 (1065) if I'm a limited partner & didn't materially participate for lines 1 & 2 on K-1?

[Kenrick]

I received a K-1 (form 1065) that has ordinary losses & net rental real estate losses on lines 1 & 2.  Why cant I deduct the losses?  I'm a limited partner & don't materially participate.

[Ashby]

Most likely, your income exceeds $150k. You can not deduct passive activity losses once your income reaches that amount. The amounts will be automatically carried over for potential use in future years.