I think you are mixing up LINE, which for tax purposes issues a K-1 for distributions that are non taxable but must be recaptured when you sell and LNCO which is organized as a corporation that is going to issue monthly dividends which are taxable at regular dividend rates if held outside either a tax deferred or non taxable account. If held within a tax deferred or non taxable account, they are obviously either taxed upon recognition or not taxed at all. LNCO in a Roth IRA or Roth 401K is a spectacular return at this price and either dramatically mispriced or indicative of something else entirely. Your pick.
I should have added that it is not a good idea to hold LINE within a non taxable or tax deferred account as there are very specific prohibitions about how much is allowable without violating IRS regulations. If you want to go ahead anyway its a good idea to speak with your CPA before you do.