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If there is a partnership - that partnership MUST file the tax return - form 1065 and should issue K1 forms to each partner.A partnership is the relationship existing between two or more persons/entities who join to carry on a trade or business. Each person/entity contributes money, property, labor or skill, and expects to share in the profits and losses of the business.Partnership should issue schedules K-1 to each partner reporting pro-rata share of net taxable income (or loss) -
Some additional information about partnerships may be found in IRS Publication 541 -
.Then - if there are two partners - you as a physical person and the corporation - each will receive K1 form - and will use information from that form to prepare your individual tax return.
If you actively participated in the partnership - the loss is fully used to offset other taxable income.
It is hard to say what exactly you entered into your tax preparation software.I will help to verify your tax return - if you send K1 and tax forms.Be sure to remove all personal information.
If you did NOT actively participated in the partnership - that is passive activity and the loss is a passive loss which may be fully used only to offset other passive income.
But again - to verify that we need to see your K1 and tax return.Specifically - you would need to locate form 8582 and verify if passive loss limitation is the reason for you not see that loss on your tax return.
If that is true - passive losses are carried forward and will be used in future years against other passive gains.