@ghettodawg wrote:
Answering "Yes" results in substantial tax savings 🙂
Yes, it would result in substantial tax savings but would also expose you to unlimited liability.
Limited partners who materially participate are treated similarly to general partners; you could become liable for the debts and actions of the partnership and other partners.
Regardless, meeting one of the material participation criteria would be next to impossible as a limited partner in an MLP.
