Although, in your situation, it technically is your loss because if you choose not to use these passive carryover losses from 2019 and not to amend your 2019 return for these losses, consequently, you won't the know the correct amount of these carryover losses to be applied to 2020 either so you you won't use them. Nonetheless, since this K-1 is a form of IRS documentation,it must be accurately accounted for. If down the road the IRS compares this K-1 from the company that issued you the K-1 to your personal tax return and sees that it is missing, it will be sure to cause a red flag.
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