I am a passive limited partner in a PTP in oil and gas with a loss shown on the K-1 in Box 1 Ordinary business income (loss). This loss cannot used in the year it was reported since there is no passive income. The loss is to be suspended to future years to either offset gains in the PTP or be used when I dispose of the PTP. I input all of the data from the K-1 into TT and the dollar amount of the loss never appears anywhere on any IRS forms or worksheets produced by TT. If I don't show the loss on any forms or worksheets that I submit to the IRS, how will I be able to later claim the losses when I sell the PTP? I would have expected this loss to appear on Form 8582 and it's worksheets, but it did not. BTW I tried experimenting and changed this from a PTP to a non PTP and it did show up on 8582 and worksheets. I also have a non publicly traded partnership in oil and gas that also had a passive loss shown in Box 1. This loss was shown on 8582. Both of these partnerships are listed on Schedule E p2 line 28 but the losses are not shown, it just shows zero for passive losses allowed under column f with nothing shown for column g passive income. So anyway the dilemma is how does the IRS know that I have this suspended passive loss form the PTP if it's not shown on forms that I submit to the IRS? Is this a problem with the Premier TT software? Am I supposed to report this unallowed passive business loss on some other form?
