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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (69279)	12/10/2021 12:47:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 78464

I wasn't trying to shoot holes in UAN. Just pointing out what I saw right off. Negative earnings since 2016 every quarter until recently and what my app showed for next year making me wonder if this quarter was a fluke. BG, MOS etc in the fertilizer sector was where I had been focused until I saw your post. I know about high fertilizer prices. I about had a heart attack when I did my fields this year. I paid $700 a ton compared to less than half that last year.

To: Elroy who wrote (69279)	12/10/2021 9:31:54 AM
From: Paul Senior	2 Recommendations Recommended By Area51 E_K_S Read Replies (1) \| Respond to of 78464

mlp's/brokerage/turbotax. We've had discussions here about such. For me, every year has not gone smoothly with a disconnect between what the brokers report vs what the K-1 reports. Getting better, but still not smooth last year. One broker reported (1099 form) distributions, then issued a retraction (as it should, since the distributions are reported in the K-1 which is entered into turbotax. (Only an accountant or a tax wonk would not use a prepared tax program for mlp's, imo -g-). And if I could recall correctly, another broker reported my mlp sales within all the reported stock sales that get reported to the IRS. That would be double counting, because again, the sales (using adjusted cost basis) are reported though the k-1 into turbotax. UAN has two plants in two different states. What're the tax implications there - will I have to file state income taxes in those two states? (All my other mlp's are based in TX which has no state income taxes.) Quite possibly, given the size of my UAN position and the distributions I expect. If I do, that will mean more turbotax filing. My bet is it will not be so easy once turbotax starts querying me about the aspects involved in completing those states' requirements. Perhaps your tax filing experience is or will be much easier and not frustrating at all. To me, the biggest drawback to having UAN is its mlp structure.

To: Elroy who wrote (69279)	12/10/2021 10:35:19 AM
From: Area51	1 Recommendation Recommended By E_K_S Respond to of 78464

<<You just enter the numbers from the K-1, and Turbo tax spits out the result. It's not complicated at all.>> My experience is that it is oftentimes complicated. Unless you do a complete disposition turbotax will not generally correctly calculate the capital gains and figure out the ordinary gains portions without some intervention. Good article to file away for tax time (with a few tricks you can usually get turbotax to calculate the correct tax) : ttlc.intuit.com

To: Elroy who wrote (69279)	12/14/2021 7:49:08 AM
From: robert b furman	3 Recommendations Recommended By Elroy Lee Lichterman III pak73 Read Replies (1) \| Respond to of 78464

Hi Elroy, CNBC interviewed a California farmer last night. He said last year a ton of fertilizer cost 220.00, his ost recent purchase was priced over 800. 00 per ton. Last year's Corn crop was estimated to be low due to drought, but came in higher as late rains came. Levels in inventory are quite low post harvest. The USAG estimate of the 2022 corn crop is high. Any drought conditions will be reducing the harvest and result in much higher prices as the storage levels starting the year a very low. I read where the coffee crop got hit by frost this year. Farmers here in Wisconsin had a great crop. Although it is always delayed, close proximity to Lake Michigan gave us the steady rains needed for optimal growth. That with a dryer spring got seeds into the ground early - key for our growing season in Wisconsin. Bob