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Enterprise Products Partners L.P. Message Board

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  • Reply to

    Expectation of quarterly dividends?

    by y2knkttx Apr 28, 2015 4:26 PM

    Anyone that has a bank holding their stock is getting SCREWED. What part of 'cost' don't you understand?

  • Reply to

    Keep EPD Down Until Friday

    by skinz4q May 4, 2015 2:38 PM

    Have to agree. Root for failure to enhance your share amount purchase.

  • Reply to

    MLP tax question

    by clrodrick May 3, 2015 4:50 PM

    Of course you can.

  • Reply to

    MLP tax question

    by clrodrick May 3, 2015 4:50 PM

    My assumption was that short term capital gains were taxed at the same rate as ordinary income, so I treated the two as the same.

    For what it's worth, my CPA got back to me and said I could offset any short term capital gains in my MLP with short term capital losses with non-MLP stocks.

  • Reply to

    Keep EPD Down Until Friday

    by skinz4q May 4, 2015 2:38 PM

    So far, so good.

  • Reply to

    what a beat down today...

    by wainmatthew May 6, 2015 12:43 PM

    Bonds are getting clobbered as interest rates rise. MLPs are a surrogate for bonds. This has been expected for a very long time. Stronger crude oil price is a sign of impending inflation, therefore the Fed is happy to see rates rise. It's more complicated than just that, but think it through.

  • Reply to

    MLP tax question

    by clrodrick May 3, 2015 4:50 PM

    I would think that if most of your gain came from price appreciation that would be treated as a short term capital gain much like any other short term capital gain. A small portion of your total gain would be taxed as ordinary income. Again, this assumes that holdings were for less than a year and that most of your gain came from price appreciation.

  • Reply to

    what a beat down today...

    by wainmatthew May 6, 2015 12:43 PM

    Wonder why? EPD earnings were good.......

    Sentiment: Hold

  • wonder how long it will take to gain back todays drop

  • Reply to

    MLP tax question

    by clrodrick May 3, 2015 4:50 PM

    I have had some real problems when I call the IRS because I get such contradicting answers. What I ended up doing was writing them and keeping a copy of the letter that I received so that I had documentation. The problem I had was I was sent a letter that I owed over $10,000 in back taxes I sent letter explaining why I did not owe taxes and a letter came back saying that I did not owe the money. I am keeping that response for 20 years.

  • Reply to

    MLP tax question

    by clrodrick May 3, 2015 4:50 PM

    Buckeye was one of the first MLPs to go public, if memory serves me. They did well until they had a few years of rough sailing. Now, they seem to have gotten their house in order. They had to slash the distribution at one point.

  • Reply to

    MLP tax question

    by clrodrick May 3, 2015 4:50 PM

    Off topic, BPL is sleeper here, check forward earnings via current, etal
    Another MMP maybe 10bil too 15 bil market cap with a real nice dividend......just passing on the thought of the week after record earnings for BPL in 1st qter 2015, enjoy, WHO CAN SAY THAT, not even MMP

    Sentiment: Strong Buy

  • Reply to

    MLP tax question

    by clrodrick May 3, 2015 4:50 PM

    Okay then. Thought there might be a universal answer to a situation like this, but maybe not? I've been reading up on this but have yet to find a 100% answer. I have been using a CPA but am trying to wean off her and start doing it myself. Part of the reason why I've sold off some MLPs I know I do not want to hold long term. In the end I'll likely just keep EPD and MMP and deal with the K1 and assiciated forms myself. Thanks for your suggestions.

  • Reply to

    Expectation of quarterly dividends?

    by y2knkttx Apr 28, 2015 4:26 PM

    As an aside, if anyone is holding their units at Wells Fargo to partake in the 5% discount on the DRIP, be aware that you (or your heirs) will be charged a hefty commission and fee if the units are sold through them (Wells Fargo.) They presently charge a $15 flat fee PLUS 12¢ PER UNIT commission. For example, if you have 5000 units, the fee to liquidate through Well Fargo will be $615 (5000X12+15). My broker charges me absolutely nothing... no fees, no commission. You can have your units transferred back to your regular broker under what is called the DRS (Direct Registration System). There is no charge for this.... it's free. You simply notify your broker to transfer your units to your account, and then you can sell them for whatever your broker charges. I have checked this with both my broker and Wells Fargo, and they both confirmed that there is no charge for using DRS. I was even able to do it by phone! It can take up to several weeks for a DRS transfer to go through, so don't wait until the last minute to do the transfer. Once the units show up in your account, you're free to sell them.
    There were several people here who thought I was mistaken when I mentioned this previously, but I've done it..... and it works.

  • The distribution is payable on Thursday, 5/7, therefore let's hold EPD down until Friday to get a lower DRIP price. The difference is negligible, but every little bit helps. It's always better to buy lower than higher.

  • Reply to

    MLP tax question

    by clrodrick May 3, 2015 4:50 PM

    You could also call the IRS with your question.... that's free. If you don't use an accountant, that might work. Make sure you get the name and number of the employee you speak with. Alternatively, you might contact the IR department of the MLP.... they might be able to help you. That's also free. Anyone on a message board can make up a plausible answer for you, but that doesn't mean it's correct. The IRS won't accept it in court, and it could cause you problems.

  • Reply to

    MLP tax question

    by clrodrick May 3, 2015 4:50 PM

    U need a CPA, not a message board.

  • Usually I buy an MLP and intend to hold onto it for the long term. But I find myself in a situation this year where I sold a few upstream MLPs for a profit of around $20,000 (including distributions) that will all be taxed as ordinary income since I did not hold for a full year. I also have accumulated roughly $8,000 of short term losses so far in 2015 by selling some (non MLP) stocks.

    My question is come tax time, can I use that $8000 of non-MLP losses to offset the $20,000 of MLP gains that will be taxed as ordinary income? My gut says no, as everything I've read points to MLP income being shielded off from everything else. But in my readings I cannot find a definitive answer on the subject. I'd like to know for sure so that I can do some tax planning for the rest of 2015.

    A second question pertains to when any given MLP holdings reaches the point where the cost basis goes to zero. Once that happens, I believe any further distributions are taxed as ordinary income, yes? Can short term losses from other stocks offset the ordinary income from MLP distributions then?

    Thanks in advance for anyone taking the time to respond.

  • I find no reason to consider anything other than these two: EPD and MMP.

    I agree with you, own them both and they are long term keepers....

  • Reply to

    Expectation of quarterly dividends?

    by y2knkttx Apr 28, 2015 4:26 PM

    It's reasonably safe to presume that the distribution will continue to grow at the present rate of half a cent per quarter. There's the possibility of a small "special" from time to time, but the distribution for the last quarter (which went ex on 4/28/15) was 37.5¢. Look for 38¢ next quarter, 38.5¢ the following quarter, 39¢ the next quarter, and so on. The 36.5¢ dividend you're referring to was back on 10/29/14. EPD used to increase the distribution by 1¢ per unit per quarter, but the split ended that practice. As I predicted at the time, the split did absolutely nothing for either the unit price or the distribution. If anything, the effect of the split has been a net negative for unitholders. For those who love splits, be careful what you wish for. Splits are not the panacea that many people think they are.

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