Form 8582, Passive Activity Loss Limitations, is used to calculate the amount of any passive activity loss that a taxpayer can take each year.
Form 8582 does not include passive income, gains, or losses from a publicly traded partnership (PTP). The rules for passive income, loss, deductions, and credits from a PTP are applied separately from other passive activities. Passive losses from a PTP can only offset passive income from the same PTP. The partnership needs to keep track of suspended PTP losses to ensure they are accounted for in future years.
Schedule K-1 (Form 1065) from a PTP will be marked as such in Box D under Part I - Information About the Partnership.
Additional Information: