I agree with @Mike9241 in general.
The only issue I potentially see is how you handled this K-1 in the past.
From the questions asked, it doesn't appear that you had this K-1 in past years??
If you did, and you entered the real estate activity separately, then you may have suspended losses that need to be combined with the single entry method in this final year.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
