If you do your own taxes, that is. In 2019, I had the most irritating experience of getting a K-1 for taxes. Dealing with a K-1 was more complicated than the meager amount I received was worth, so I sensibly sold the 3 units (the equivalent of stocks) I owned after doing my 2019 taxes.
Unfortunately, this meant that I had to deal with the sale of those shares in my 2020 taxes. I soon discovered that this was even more annoying than the previous year. Most of the information was simple enough to complete from the K-1 and my own records, but I apparently needed a Form A that I did not actually receive in the original packet.
Anyway, I have learned not to buy shares of anything with “Partnership” in the name with my play account. If only I had known back in 2019…
