I am guessing it will be when the ETE unit holders get their distributions (which is tomorrow 11/19). I could be wrong though.
How you can get the discount drip price? Through a brokerage account. I know TD Ameritrade does this (you can either call or setup it up yourself). I am sure you can call any brokerage account .
Do you get automatically if you reinvest the distribution? Yes.
My Fidelity account shows I have a distribution as of 11/16/15 but because the distribution is reinvested it still shows the transaction is 'processing'. If I remember correctly it took severals days past the distribution date for the new units to show up in my account. Hope that helps.
Has anyone had 3rd Qtr distribution shares or cash payment added to your account?
I am new to ETP. Looking at their website, it indicates that the 3rd Qtr distribution date is 11/16/2015. Checking my account at Wells Fargo, I have yet to see any shares added to my account. When I asked a Wells Fargo representative why the shares had not posted, she agreed that the distribution date is 11/16/2015 and thought that they would post after business yesterday (17th). I checked this morning, still no additional shares added to my account.
from Wednesday to today, 41.50 down to 36.50 and back to 41.50....... how many people got shaken out? now nearing 42 is short term resistance..... ETP needs to break above 42.50 or its back down to 36.50....unless oil and nat gas can rally....then we move up....
I don't believe in absolute 'never' What about for those who don't have taxable accts? They can get a higher return in the IRA and just pay the tax when due. Some with small balances may not have any or liittle due. Also for those who have it in their taxable acct--there is a big tax due on sale there also.
You are wrong. The accounts were correctly reported by my custodian. All I had to do to prove my case was to copy and present the appropriate pages of my account reports.
It has been for three successive years an intentional IRS fraudulent claim. If you think the IRS is honest and has your best interest in mind you have your head in the sand, or you're a far left Democrat. The use that 70,000 page code to reward politicians friends and punish enemies.
David - The answer is you do indeed owe taxes, but the IRS has no real way of tracking this. The tracking data is changing and will come about either in 2016 or 2017. This came up because of the massive sale all on the same date with about $1B of taxes due! Another reason not to place MLPs inside an IRA.
Do not exactly understand your post, but the sale or distribution of MLPs from an IRA does constitute a recapture for the purposes of UBTI. This issue is very complex and not well understood, but shows another reason to hold either very small amounts of MLPs inside an IRA of any flavor. The notices regarding the KMI rollup are correct and they are only going to increase when the IRS gets increased information from the companies and can match broker and MLP data to determine actual correct numbers on a sale inside an IRA.
My DW suggested that in your case the accounts were incorrectly reported by your custodian as not being in an IRA. This would cause the problem you mention and the fix is simple. Just call the custodian and tell THEM to fix their mistake. If it is the IRS's error then simply send a copy of a statement.
i own numerous MLP's, Including over 5,000 shares of ETP. I want to warn you about the IRS. For three years they attempted to tax me on all of the distributions in my IRA and ROTH IRA,not the UBTI excess (there was no UBTI excess over $1,000). They sent me a huge tax bill. I contested it by mailing all of my statements that clearly showed the distributions were in an IRA/SEP (the description on my Fidelity reports). In each case I prevailed and received a notice that I owed no tax. There have been some notices on the KMI site regarding these tax notices. Many people pay out of fear. I have a huge IRA and a large ROTH. Perhaps the IRS uses a threshold to mail these fraudulent notices, going after the rich guys; I don't know.
If you receive one of these notices, usually for a tax year two years prior, be sure you have the documentation to contest the IRS. Overwhelm them with documentation!!
The IRS is corrupt and engaging in mail fraud. Mail fraud is mailing a bill that you know is false.
Vote for Ted Cruz. He wants to eliminate the IRS.
I wish all of you successful investing.
Mike - The calculation is simple - if you sold nothing then you add the positive numbers in boxes 20V. You IGNORE any negative numbers. If over $1000 your custodian must file (charging your IRA) and pay out of your IRA. If a sale then there is recapture and more complicated as you indicate. Pshonore is correct. This issue is not going away, but rather getting bigger.
To the OP - I have never had a positive number for UBTI with ETP. Others have often or usually had positive numbers ie. MMP and the old APL.