Schedule K-1

[tombell30030]

My K-1 reflected a business loss, yet Part ll of Schedule E did not did pick this up. What did I do wrong?

[SundayInSalem]

You may a passive loss if you were a limited partner. Generally, losses from passive activities that exceed the income from passive activities are disallowed for the current year. They are suspended, but can be applied against passive income in later years or deducted in full when you dispose of your activity.

You can carry forward disallowed passive losses to the next taxable year. A similar rule applies to credits from passive activities.

Topic No. 425 Passive Activities – Losses and Credits