@dmertz , If I am understanding correctly, you are saying that a business that reports via 1099 would pay the taxes for any tax liabilities from partnerships they own. I am not sure I have that right.
NEE is NextEra Energy, and NEP (NextEra Energy Partners) is an LP subsidiary that reports with a 1099. In your answer, would you be talking about NEE's responsibility for NEP shares they owned, or are you saying that NEE would cover the tax liability for all of NEP's unrelated business taxes?
I am trying to figure out if NEP's 1099 reporting of their LP shields me from UBTI taxes.
