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A limited partnership is designed to be a tax-advantaged
vehicle. The lesson to readers is, don't put a limited
partnership in an IRA--it makes two layers of tax-advantaged
entity, which is inefficient. Plus the problem you now
Any way you could sell the thing?
Hopefully, once the lawsuits are settled there will be
one more final distribution of cash and then it will cease
to exist. Perhaps that final distribution will pay the
custodian fees, but you have no guarantee that there will
even be one.
I get mailings from scavengers trying to pick up units
of LPs cheaply--if you are receiving any sort of mailing
like this it is an indication that someone who has done
some worth thinks the partnership units have some value.
If you aren't, it gives you the opposite vibes.
Best wishes, Chris
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