The following is going to play to stereotypes slightly, but . . .
I see many similarities between Buddhism and Mormonism - far more than between Mormonism and most of Protestantism.
For example, the concept of becoming like God, the Eternal Father:
1) The Mormon phrasing would be, "Becoming perfect like God (complete, whole, fully developed)," while the Buddhist version would be "joining the divine (and no longer being born)." Compare that to the Protestant "living separately and spending eternity telling God how great He is."
Now consider the concept of the status of other religions:
2) Mormon: "All religions have truth in them, and a level of salvation/exaltation is available to all - regardless of religion - through the Atonement of Jesus Christ." Buddhist: "All roads lead to Fuji." (the concept, not the quote) Protestant: Accept exactly this doctrine (with special qualifications if we don't like you), or burn in never-ending anguish forever."
I'm not saying Buddhist teachings can be overlaid perfectly onto Mormon teachings, but many of them are much closer to each other than either is to mainstream Protestantism.
Look at the description of "eternal existence" from this viewpoint:
We begin as intelligences, become spirits, are born into mortality, move back into a spiritual state, eventually experience a judgment, change into an immortal state of perfect, physical body and immortal soul, continue to progress until we reach a status that can be described as "divine" - and then participate in unity with our own divine ideal by directing that repeated process of others. I count multiple "lives" - each with a distinctly different "form" - as part of a life-cycle that repeats forever.If I explained that to a Buddhist, she at least would grasp the basic concept; if I explained that to almost any non-Mormon Christian, I would be labeled a heretic and/or asked what hallucinagenic I had been smoking.