The MLP index is flat as of this posting although we've been on either side of unchanged all day long. K-Sea (KSP), Natural Resource (NRP), and Holly Partners are all up 1 point or more. Calumet (CLMT) Martin Midstream (MMLP) Inergy Holdings (NRGP) and Oneok LP (OKS) are all fractional winners.
On the downside are the three stocks that were cut this morning with E V Partners (EVEP) down the most...1.50 at this time. Magellan Midstream (MMP) and Teppco (TPP) are down 50 cents each. Williams (WPZ) Copano (CPNO) and Nustar (NS) are all down fractions.
Still working on my taxes...what a mess! But the good news with respect to UBTI (unrelated business income) in my ira account is that it is a huge negative number. And Schwab says that number gets carried over into future years!
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About Me
- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
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2 comments:
Can you explain the pros and cons of putting MLP in an IRA account? I heard its better to put it in regular acct as oppose to tax-deferred acct.
The one thing you need to be concerned with in an ira is UBTI or unrelated business income. If its over 1100 bucks you will pay tax and it is payed directly out of the ira.
Now bear in mind that you can offset any positive UBTI from an MLP with a negative one. And any net negative number can be carried over into next year. I have held and traded in and out of many mlps in my ira and i have had no tax consequence.
My general view..tax issue aside..is that i like mlps for long term growth that can beat regular stocks...i'll take the tax risk.
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