There are numerous reasons for a loss shown on Schedule K-1, line 2, not being deductible. I have listed a link to the Schedule K-1 instructions. Box 2 items are shown on Page 9 of the instructions. Please look at the list as you could fall into any of the categories as to why a loss shown on Line 2 would not be deductible.
Schedule K-1 Instructions
@Gilpo
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