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No. of Recommendations: 2
The BBU spin-off was too inconsequential ( less than 2% of my BAM holding) to even bother trying to calculate its value. I received a 350 page prospectus for the spin-off, and it is headed into the recycling bin with barely a glance at the cover page.

This is the second time BAM has spun-off one of its partnerships.

Tax consequences of K-1 are numerous. One of the worst is you might have to file taxes in every state where the partnership has income, even if you are not a resident. Also if held in an IRA there can be complicated filings to be done by the custodian, for which you will most likely be charged a fee. And many companies don't issue K-1s till late in the season, forcing you to apply for extension or later amend your return.
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