I found this statement in a document: "MLPs Taxed As C-Corps. There are five shipping MLPs (i.e., Capital Product Partners L.P., Golar LNG Partners LP, KNOT Offshore Partners LP, Navios Maritime Partners, L.P., and Teekay Offshore Partners, L.P.), which elect to be taxed as corporations for U.S. federal income tax purposes. "
I would put a link, but that usually does not work. I see NAPTP has similar info. So that would seem to say there would be no UBTI.
Anyway, do you think this quote is no longer true? If you got a GMLP K-1, that would be a good reason to think that something changed.
I split the parts into separate K-1s for Turbotax. Two of them have small suspended passive losses. Can I just create a final K-1 for those two to take those losses, or is that something I cannot do unless I sell out of EPD?
...online. Note when you import/enter into Turbotax, the fact that you have a value in line 3 (Other rental income) will give an error because it is mixed with the pipeline business. The workaround is to make a new K-1 in TT that is marked Other Rental Activities instead of Business. Remove the line 3 value from the primary K-1, and enter that value onto line 3 of the new Turbotax K-1.