Reporting was always up to the brokerage/institution where one held ownership in units that require this... at least that's been the case as long as I can remember...
I am puzzled, though because I've had MLPs in one IRA (quite a chunk) for 20 years and never had anything withheld, perhaps because MMP is the only one I have that seems to always have a positive UBTI, while most of my others are usually negative or very small positives...
fwiw, I've had ETP, KMP, EPD for a long time (and EPB before that)... sold the EPB after massive gains, etc., and replaced with MMP... own NRP in another IRA, but have only had it a year or so... I got so many K-1s this year for MLPs, etc. that it took me an afternoon to shred it all -- made me think about getting a stouter shredder because I hate shredding and all of the time it consumes when you include emptying the bin (which of course I'm the only one in the house who takes the time) and really, really, really clearing all of the bits out when jams occur, which seems too often even if it's only once... <g/ng>
My biggest problem tax-wise for 2011 was that I made too much money when I wasn't expecting to make so much having semi-retired a few years ago, and the self-employment tax bites really bit for 2011. I'll have to go back to filing quarterly this year (IRS gets nasty about under-withholding by us self-employed types) until things settle down... I have to remind myself to stop working so much... <g/ng>
Best,
Jim |
