See https://www.irs.gov/instructions/i1065sk1#idm140228279835744
Losses reported in Box 2 of your K-1 are from passive activities (generally rentals) which can only be utilized to offset passive income unless you are a real estate professional who materially participated in the activity.
Note that the same would be the case with respect to an S corporation (K-1 Form 1120-S).
Your loss will, however, be carried over to the following tax year (and future tax years, if necessary) to be used to offset any passive income and cumulative losses will be entirely released upon a sale to an unrelated third party.
