You definitely want to enter all the K-1 information into TT. TT will track it and suspend any of the losses until something happens that allows you to claim them.
What the quote you referenced is discussing is when you can use those losses. By "report the loss" they mean actually net it into your income and reduce your tax. That's different from giving TT the information so it can track them for you from year to year.
On the CO questions, I'm not familiar with their forms so can't really help. But what they might be referring to is that some states require partnerships to follow different rules for reporting (one common example is depreciation). The partnerships usually identify (in the line 20 footnotes) where a number might be different on for certain states, and by how much. You'd then make the adjustments at the state level. But each state does that differently, with different forms, so that's the best I can do.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
