I have some investments which are structured as partnership. I don't participate in business after investing in it. If the deal succeeds, I get some distribution. So for 2022, I have one deal succeeded and one deal failed. When a deal failed, investor got nothing back, lost all the investment capital.
I received two schedule k-1 for these two completed deals. I followed TT instructions to input K-1 numbers, however, in schedule E part II "Income or loss from partnerships and S corporations", line 28, 0 is shown in column (h) for the succeeded deal under passive income and loss; and 0 is shown in column (k) for the failed deal under nonpassive income and loss. I would expect net gain to show up in column(h) and loss in column (g) in passive income and loss section. What could go wrong here?
Though I didn't see income number in column (h) in schedule E, in Form 8582, Part I "All other passive activities", I did see net income in line 2a. Seems TT knows I had passive net income from the succeeded deal. However, the passive loss didn't show up in 2b, where I would expect it to show. Seems the passive loss didn't flow through from schedule K-1. Any idea why loss number didn't show up?
