Ingested fat that is absorbed by the small intestine must make it's first pass through the liver. Free lipids are modifyed by type and ammount in the blood stream to keep the ammounts of various lipids in the bloodstream at reasonable levels. Most of the lipids are temporarily stored as fat in the liver and later broken down into glucose as needed to maintain blood glucose levels between meals. This is an important function since carbohydrates are used up soon after digestion and protein is catabolized if blood sugar levels are not maintained. Some of the lipids are converted to lipoproteins which are used as building blocks for hormones. Depending on metabolism, surplus lipids may be stored as fat elsewhere in the body or simply excreted as waste.
It appears that the typical active person stores little of the ingested fats more permanently unless insulin activity is high. Lowering ones insulin response and increasing glucagon, growth hormone, ACTH (adrenocorticotropic hormone), epinephrine, and thyroid hormone output keep this fat storage from exeeding fat use.