K1passive or non passive loss

[Rich Thomas]

I am a limited partner in a property which had some large paper losses this past year. I own less than 10% of the partnership and I have no daily operational responsibilities.

My K1 statement from the partnership is showing a large loss for the year also. From what I have read online this should be considered a ‘passive’ loss because of my roll in the partnership.

My CPA is counting this loss as a ‘non-passive’ loss stating that because it is still held and not sold yet is is not a passive loss, is this correct?