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Filled out K-1 partnership but it doesn't show up under my income review. Still says zero and I had -2216.

Business partner income says $0.
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2 Replies
JamesG1
Expert Alumni

Filled out K-1 partnership but it doesn't show up under my income review. Still says zero and I had -2216.

Did you materially participate in the enterprise?  If not, you may not have qualified for the passive activity loss.

 

Review IRS form 8582 Passive Activity Loss Limitations.  See Part VIII for Allowed Loss.

 

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Filled out K-1 partnership but it doesn't show up under my income review. Still says zero and I had -2216.

if this was a publicly traded partnership, by law the loss is not currently deductible. If it was not a PTP, look at form 8582 and the related worksheets. The loss could be passive resulting in it not being currently deductible. 

 

 

 

 

is it rental real estate? always passive except for a real estate professional and the loss is not deductible if your adjusted gross income ia over 150K before the loss, if it's not rental real estate do you materially participate fin the partnership activities for the loss show on line 1

 

 

I f the loss is on other lines, we need to know the line number and the letter, if any, associated with the line number

 

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