Company: BEP
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001533232-25-000006
Chunk: 448

Company: Brookfield Renewable Partners L.P.
Filing Date: 2025-02-28
Form: 20-F
Item: Item 10
Chunk 448
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 than such U. S. Holder’s tax basis. In general, a U. S. Holder will be at risk to the extent of such holder’s tax basis in LP units, reduced by (i) the portion of that basis attributable to such U. S. Holder’s share of BEP’s liabilities for which the holder will not be personally liable (excluding certain qualified non-recourse financing) and (ii) any amount of money the U. S. Holder borrows to acquire or hold LP units, if the lender of those borrowed funds owns an interest in BEP, is related to the U. S. Holder, or can look only to LP units for repayment. A U. S. Holder’s at-risk amount generally will increase by such U. S. Holder’s allocable share of BEP’s income and gain and decrease by distributions received from BEP and such U. S. Holder’s allocable share of losses and deductions. A U. S. Holder must recapture losses deducted in previous years to the extent that distributions cause such U. S. Holder’s at-risk amount to be less than zero at the end of any taxable year. Losses disallowed or recaptured as a result of these limitations will carry forward and will be allowable to the extent that such U. S. Holder’s tax basis or at-risk amount, whichever is the limiting factor, subsequently increases. Upon the taxable disposition of LP units, any gain recognized by a U. S. Holder can be offset by losses that were previously suspended by the at-risk limitation, but may not be offset by losses suspended by the basis limitation. Any excess loss above the gain previously suspended by the at-risk or basis limitations may no longer be used. An additional limitation may apply to the deduction of certain “excess business losses” by non-corporate U. S. Holders for taxable years beginning after December 31, 2020, and before January 1, 2029.

Each U. S. Holder should consult its own tax adviser regarding the limitations on the deductibility of losses under the U. S. Internal Revenue Code.

Limitations on deductibility of organizational expenses and syndication fees

In general, neither BEP nor any U. S. Holder may deduct organizational or syndication expenses. Similar rules apply to organizational or syndication expenses incurred by BRELP. Syndication fees (which would include any sales or placement fees or commissions) must be capitalized and cannot be amortized or otherwise deducted.

Limitations on interest deductions

A