There are three questions.
1. Do you need to file the negative K-1? Yes. The negative amount must be reported, because you are also reporting the positive amounts.
2. Will it offset the positive K-1s? Maybe and maybe not. The question is how much basis you have in the venture. Basis is another way of saying investment. Your basis is determined by the amount of capital you initially invested in the venture, the amount of earnings the venture has had over the years, and the amount of distributions of capital you have taken throughout the years as well. A loss from a venture is reportable up to the amount of basis you have remaining in the venture. The IRS is now wanting basis to be tracked and reported to them to verify business losses being claimed. If the losses you claim from this venture are equal to or greater than the earnings from your other Forms K-1, then the losses will completely offset the other gains.
3. Can I carry a net loss forward? That also depends. What you cannot claim this year is suspended, or carried over until it is used. There are two ways the loss could carry-over. If the loss is carried over due to insufficient basis in the venture to claim all of the loss, then the portion of loss not claimed is suspended in the venture until money is earned by the venture to absorb the suspended loss. (It's like a "negative basis" as it were). However, if the loss is not limited by basis, but reduces other income earned to below zero, that is a net operating loss. A Net Operating Loss is carried forward to use on a future income tax return.
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