My friend has told me never to use them in a taxable account, they can create a tax filing nightmare?
Are they okay to use in retirement account? I know they like any investment have their own risk characteristics, just wondering if there is any problems when it comes time to tax preparation. Thoughts?
So the answer is that they are fine to hold in a retirement account, however there are limits as to how much UBTI you can receive in your accounts.
I own both EPD and MMP in my taxable accounts and both are MLPs and I receive a K-1 at the end of the year for each one.
interesting. Thank you!