A publicly traded partnership, also known as a PTP, is a type of limited partnership that is managed by two or more partners and traded on an established securities market.
If the Publicly Traded Partnership (PTP) box is checked on your K-1 Form 1065, the net passive loss (if any) from a publicly traded partnership will not be deducted from other passive income on the 1040.
This amount will not carry to either Schedule E (Form 1040) or Form 8582. Instead, a passive loss from a publicly traded partnership is suspended and it should be carried forward (manually) to be applied against passive income from the same publicly traded partnership in later years.
For more information, see: Partner's Instructions for Schedule K-1 (Form 1065).