This MLP held interest in 4 other Ltd Partnerships. The instruction that came with the K-1 states that each of the other Ltd Partnerships are treated as a separate activity; and income [on Lines #1 and #10] from one activity cannot offset losses from another activity. The K-1 reports the total -- with a Supplemental K-1 Schedule showing the breakdown among the 5 "Activities" [including the MLP]. Other line items are to be reported in total (net).
Question: Do I treat the data as if they are 5 separate K-1s? Or do I keeping track of each activity's suspended loss on the side?
And how do I do that in TurboTax?
TIA