RE Taxes 101 Question - Investor Perspective

The fundamental question on taxation on distributions and the cash on cash returns that LP investors receive from their equity stakes in RE deals.

Can the GP/Developer on the deal essentially dictate the taxation that the LP will pay on his distributions through things such as accelerated deprecation, etc.? OR is it always treated solely on the side of the LP and how they choose to manage tax deferments, etc.?

Hope that makes sense.

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