25 years new with ProSeries (which is why I feel stuck with it; not willing to refamiliarize myself with some of the better products I used in the 90s).
Ya, this whole thing with inside basis and outside basis is why I won't do any clients that have K-1's with complicated carp in it. Had one client that his K-1's ballooned from 5 to 23 in one year from real estate partnerships that each owned parts of other real estate partnerships (all related) and were shifting different types of debt leading to deemed distributions and transfers of capitaI, nightmare. Told him to find a CPA that specializes in that thing. He did, and paid 6x my fee and then wanted to pay me to figure out if the new guy did it correctly! I also gave up my Partnerships/S-Corps. Just doing Individuals and Fiduciary returns now.
