is the PTP box on the Turbotax K-1 checked? passive losses on lines 1 through 3 and certain other lines would not be deductible. you are correct that in losses from PTPs are not deductible until total disposition (or may offset future income). look at schedule e page 2 to see if any loss is showing up. there shouldn't be any
however, if you itemize your deductions items certain items on line 13 are not passive and would increase your itemized deductions. there are other lines on the k-1 which may show losses that are not passive.
