In addition to what rjs said:
(4) Telling TurboTax that you no longer receive the Schedule K-1 will cause TurboTax to delete any carryover information that may be required to properly complete the tax return. Reconstructing that to prepare an amended tax return can be a nightmare. You would be better to estimate the values for the Schedule K-1 rather than remove the K-1, but you would still be untruthful when you sign the tax return saying that it is correct to the best of your knowledge.
