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Level 2
April 14, 2022
Solved

K-1 flow to form 8582

  • April 14, 2022
  • 1 reply
  • 4 views

I have a client with a PTP 1065 K-1,  with a loss reported on Part III Box 1 and a loss in Box 2.  I cannot get the loss in Box 2 to flow to Form 8582 part I 2b.  Am I missing something?

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Best answer by msmith7305

If the PTP has a net loss, not counting portfolio income, they will show as 0 on page 2 of Sched E and all the losses are suspended.

1 reply

Level 6
April 14, 2022

PTP income and loss does not go to Form 8582

Level 2
April 15, 2022

Where does the Loss in box 1 and box 2 on the K1 go on the 1040?

Level 6
April 15, 2022

If the PTP has a net loss, not counting portfolio income, they will show as 0 on page 2 of Sched E and all the losses are suspended.