It's a natural first reaction to want to sell the partnerships that create K-1 1065 and the new K-2 and K-3. Even though my partnership stock price is down, the real value to my tax liability is the partnership losses and interest expenses which I use to lower my personal tax liability. For instance, before entering all the K-1 numbers, I owe about $12,000. After entering I have a refund of $8,500. So, personally, $20,500 is worth the extra steps and headaches associated with owning partnership shares. The IRS and TT will come to some resolution by adding the K-2/3 to the software. I hate the paperwork as much as you do, but the tax reduction is worth it to me. My old father used to tell me to "breathe, breathe" and try to look at things from a different angle. Good luck to us all this tax season.
