The National Directory of Certified Public Accountants

Ask A CPA - Partnerships - Form 1065

Can My K-1 Loss From My PTP Offset Other K-1 Income?

NO. PTP (Publically Traded Partnership) losses can only be used to offset income from that specific PTP. It cannot be used to offset income from other PTPs or other K-1 entities.

If you need professional help with "Partnerships - Form 1065" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.