My understanding is no matter what, you receive a K1 if you hold LGCY units for even one day. But you may be right about most people here not owning it in 2015. I'm already seeing the nightmare my taxes will be next year if I take assignment on my puts sold rather than buying them back at a loss.
What was the impact of the K-1 for LGCY common in 2015? I will be long this month for the first time. How much per share did you have to pay in taxes, and most importantly, if you use Turbotax, how big of a pain was it to put the information in?