Tax
TC PipeLines, LP (the Partnership) is a publicly traded limited partnership which, as an entity, is not subject to federal or state income tax. Instead, partners are required to report their allocable share of the Partnership's items of taxable income, gain, deduction or loss in their individual income tax returns as though each partner had incurred such items directly.
The Partnership determines taxable income annually and allocates it to the unitholders in accordance with their particular percentage interest in the Partnership. Unitholders are required to include their share of the Partnership's taxable income in their income for tax purposes and add the amount to the tax basis of their units. The amount allocated may exceed or be less than the amount of cash distributed in the year. Generally, cash distributions are considered a return of capital and reduce the tax basis of a limited partner's units.
Form K-1
TC PipeLines, LP intends to furnish unitholders with a Schedule K-1, which describes each unitholder's share of our income, gain, loss and deduction for the 2009 taxable year. TC PipeLines, LP unitholders can expect to receive their Schedule K-1 in March 2010.
To assist unitholders with questions concerning information contained in their Schedule K-1, TC PipeLines, LP has made available the following toll free number: 1-877-699-1091
TC PipeLines, LP will not be preparing any partnership tax reporting information that may be required for jurisdictions outside of the United States.
Related Information
2009 Annual Report
FAQ's
Investor Packet
If you would like to receive an Investor Packet from TC PipeLines, LP, send your name and address to:
investor_relations@tcpipelineslp.com
Contact Investor Relations
If you would like additional information or have further questions:Tel: 1-877-290-2772 (toll free)
Fax: (508) 871-7047
E-mail: investor_relations@tcpipelineslp.com
