@ToddL99 thank you so much! Yes, I did not know what I am running into when I bought ET. So much to learn, but with the help from you and the TT community, I think I will nail this down eventually :-). I am reading through all the posts :-).
Yes, I only got 1 k-1 from the master PTP, I wish it is ok not to split to sub-ptp level, it is so much easier and less confusing! But other posts had different opinion. Even on my k-1 form, it said "However, the application of the passive loss limitations to tiered PTPs is not entirely clear, so you should consult your personal tax advisor as to....". Sigh, seems like it is NOT something that is straightforward.
