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re: Linn Energy Question
Posted on 5/1/16 at 4:39 pm to Iowa Golfer
Posted on 5/1/16 at 4:39 pm to Iowa Golfer
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.
1
Posted on 5/1/16 at 4:43 pm to b-rab2
Limited partner, not a general partner. Not 100% sure, but pretty sure as they aren't responsible for the debt, only the general, or managing partners would be.
Having said this, they're on the hook for debt forgiven as ordinary income I believe.
Easier than understanding the minutia of tariffs as an example.
Having said this, they're on the hook for debt forgiven as ordinary income I believe.
Easier than understanding the minutia of tariffs as an example.
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