From: "jeffrey E." <[email protected]> To: Richard Joslin -4 Subject: Re: FW: BRH K-1 Date: Fri, 01 Aug 2014 16:24:12 +0000 I'll call later On Friday, August 1, 2014, Richard Joslin wrote: K-1 treats all debt financed interest as Investment interest. Tom takes it on page 1 of 1040 — dollar for dollar reduction against interest income, ie 39.6% From: Jeffrey E. [mailto:[email protected] Sent: Friday, August 01, 2014 12:13 PM To: Richard Joslin Subject: Re: FW: BRH K-1 What? On Friday, August 1, 2014, Richard Joslin I> wrote: Status quo ante From: Richard Joslin Sent: Friday, August 01, 2014 12:09 PM To: 'Elliot Becker' Cc: David Earley Subject: RE: BRH K-1 Thanks. I don't quite agree that I requested this change rather I asked Deloitte for a tax analysis of the putative change presented on the initial version. As I noted on our last call, I defer to your final judgement and I stand as bystander. I agree that the parties understand the initial discussion of debt financed distribution, both now and at the outset and parties should be ensuring that they should be following this understanding. From: Elliot Becker [mailto: Sent: Friday, August 01, 2014 11:53 AM To: Richard Joslin Cc: David Earley Subject: BRH K-1 EFTA00994049