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Strategies & Market Trends : Dividend investing for retirement
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To: JimisJim who wrote (10399)11/15/2011 12:20:11 AM
From: Jim P.  Read Replies (1) of 34328
 
Steve Felix is correct on the section of the tax code regarding the 990T. The tax exempt organization was aimed at churches and other tax exempt organizations from competing with tax paying businesses. The IRA also get thrown into the same category. One big advantage to the MLP in the IRA is no state income tax returns to file. As far as I can tell none of the states require income tax returns from an IRA. My taxable account with MLP's required 2 state returns to be filed. It took me a lot of time to finally not worry about crossing the $1000 limit. I let Schwab file the tax return and do not worry about it. Biggest risk is having one MLP blow up and leave you with tax due for the last year and worthless stock in the current year.
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