If EPD unit are held inside an IRA, you would have to pay taxes on the UBTIs generated by EPD if those UBTI dollars were over $1,000. The UBTI amount is line 20V on your K-1 - and tend to be the same number as the Line 1 number.
One would pay taxes on your share of an MLP's GAAP profits which show up as UBTIs. But EPD has a long history of producing negative UBTIs.
The UBTI issue is frequently addressed on this board - and you can find those messages by doing a message search.
Note - my last request for participation in the UBTI gathering project resulted in zero new data contributions to that effort. What's up with that? Are you guys just a bunch of non-responsive net zombies?