topic Why cannt I deduct losses on K-1 (1065) if I'm a limited partner &amp;amp; didn't materially participate for lines 1 &amp;amp; 2 on K-1? in Business & farm https://ttlc.intuit.com/community/business-taxes/discussion/why-cannt-i-deduct-losses-on-k-1-1065-if-i-m-a-limited-partner-amp-didn-t-materially-participate-for/01/341877#M12529 <P>I received a K-1 (form 1065) that has ordinary losses &amp; net rental real estate losses on lines 1 &amp; 2.&nbsp; Why cant I deduct the losses?&nbsp; I'm a limited partner &amp; don't materially participate.</P> Mon, 03 Jun 2019 20:08:26 GMT Kenrick 2019-06-03T20:08:26Z Why cannt I deduct losses on K-1 (1065) if I'm a limited partner &amp; didn't materially participate for lines 1 &amp; 2 on K-1? https://ttlc.intuit.com/community/business-taxes/discussion/why-cannt-i-deduct-losses-on-k-1-1065-if-i-m-a-limited-partner-amp-didn-t-materially-participate-for/01/341877#M12529 <P>I received a K-1 (form 1065) that has ordinary losses &amp; net rental real estate losses on lines 1 &amp; 2.&nbsp; Why cant I deduct the losses?&nbsp; I'm a limited partner &amp; don't materially participate.</P> Mon, 03 Jun 2019 20:08:26 GMT https://ttlc.intuit.com/community/business-taxes/discussion/why-cannt-i-deduct-losses-on-k-1-1065-if-i-m-a-limited-partner-amp-didn-t-materially-participate-for/01/341877#M12529 Kenrick 2019-06-03T20:08:26Z Most likely, your income exceeds $150k. You can not deduc... https://ttlc.intuit.com/community/business-taxes/discussion/most-likely-your-income-exceeds-150k-you-can-not-deduc/01/341886#M12530 <P>Most likely, your income exceeds $150k. You can not deduct passive activity losses once your income reaches that amount. The amounts will be automatically carried over for potential use in future years.</P> Mon, 03 Jun 2019 20:08:28 GMT https://ttlc.intuit.com/community/business-taxes/discussion/most-likely-your-income-exceeds-150k-you-can-not-deduc/01/341886#M12530 Ashby 2019-06-03T20:08:28Z