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re: Linn Energy Question

Posted on 5/1/16 at 4:38 pm to
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10247 posts
Posted on 5/1/16 at 4:38 pm to
Limited partners will have a tax consequence for forgiven debt.

Wouldn't their share of the debt be limited though?
Posted by b-rab2
N. Louisiana
Member since Dec 2005
12581 posts
Posted on 5/1/16 at 4:39 pm to
I'm not sure how it all works out. I was told by a relative that is very very high up in an MLP that if one goes bankrupt, you will be held liable since you are a "partner" and not so much a unitholder.
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