I had -$12,550 (loss) on my Schedule K-1 Box 11C for 2020. I think it was ignored by TurboTax. It didn't seem to have any impact on my taxes. For 2021 I have $13244 in the same box. When I do my 2021 taxes I am getting hit with a large tax. The schedule K-1 is from USO fund (partnership). When there is a negative figure (loss) I have to ignore it, but next year when there is a gain I have to pay taxes on the gain. Is this normal? Thanks for any help in advance.
