UBTI from Breitburn Energy Preferred Stocks
I was wondering if anyone has had experience with UBTI from Breitburn Energy Preferred Stocks?
UBTI, I though, was suppose to be for owners of a LP or MLP.
Preferred Stock is no suppose to be an owner since they have no voting rights and are effectively like a bond.
Also, I sold my shares last fall and bankruptcy was not finalized until April of 2018.
So discharge of debt was almost 6 Months after it was sold.
My tax account doesn’t know what to do. He directed me to a Tax Lawyer who doesn’t
return my calls.
Any thoughts and advice would be appreciated.
…Larry
Permalink Submitted by Alan - IRA critic on Mon, 2018-12-03 18:56
What documents did you receive? A K-1, Box 20? What is the amount?