The Tea Party is getting underway and growing. More details here. Also some perspective here. And here is his response to those horrible attacks by the White House.
RETEST HAS FAILED...DOW DOWN 250 S&[ BREAKS NOVEMBER LOW! MLPS DOWN NEARLY 9 POINTS AND IS NOW FLAT ON THE YEAR. ( at least we got a payout this month that gives you a 3 to 5 percent real return depeneding on your yield).
GLORY!
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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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1 comment:
Cost or Basis: Updated in Quicken but not at Fidelity
I am fairly new to MLP investing. It is my understanding that when you get quarterly distributions from an MLP it is usually a Return of Capital, but not always. When it is a return of capital then it should lower your Cost or Basis in your original investment. Is this correct? I use Quicken and notice that when a distribution is paid out as a Return of Capital, the program does adjust my Basis. I do my trading with Fidelity and notice that they do not usually adjust the Basis, in fact they only do it for one of eight MLP’s I hold. When I get a distribution from ETE, Fidelity adjusts the Cost/Basis of my investment exactly the same as Quicken does. However, for the other eight holdings Fidelity does not make an adjustment. Others are ETP, KMP, OKS, EPE, EPD, TCLP and BWP. What gives?
Another question, I download my financial information at Fidelity into Quicken. However, the way it downloads the quarterly distributions is not consistent. Some come as Return of Capital, some come as Dividends and some just appear. I usually have to manually fix the distributions and use whatever Fidelity classifies them as. Anyone have experience with this issue?
Last, the 2/09/09 distribution from EPD was noted as a Dividend instead of Return of Capital. Is this correct? I have tried to find information online but have not been successful. I can only find the amount of distribution but not the type. Thanks
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