There is no limitation on capital losses at the partnership level. The total net capital loss for the year is allocated to each partner, and will appear on each partner's K-1 statement. The individual partner will combine his or her share of the partnership loss with any other capital gains/losses for the year. If, after doing this, the member has a net loss, up to $3,000 of such loss can be used in the current year, and the balance can be carried forward for future years.