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Strategies & Market Trends : Dividend investing for retirement

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To: JimisJim who wrote (10399)	11/15/2011 9:28:43 AM
From: LTBH	Read Replies (1) of 34328

Steve is correct. The IRS section heading for Steve's quote, ie for "organizations exempt": "Unrelated Business Income Tax - Special Rules for Organizations Exempt Under Code Section 501(c)(7), 501(c)(9), 501(c)(17), or 501(c)(20)" The first sentence of that section:"Even though an organization is recognized as tax exempt, it still may be liable for tax on its unrelated business income. IRAs are recognized by the IRS as tax exempt entities which fall under this section. Any CPA knowledgeable about MLP tax law will confirm the above. Strongly recommend consulting an MLP qualified CPA to obtain an understanding for those considering IRAs and MLPs. Google searches, message boards and even my message are not where I would be obtaining tax advice. I do read certain message boards but I also employ a very qualified CPA to handle my MLP matters which are all held in taxable accounts not IRAs. Luck LTBH

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