I've been researching Linn for my stock club, but I always think the best opinions are from people that have been following the stock for a while. Are there any long time followers of Linn on here that could share their best pro and cons on this stock? What is a good entry point?
By the way, anyone sincere about sharing investment ideas is welcome to join http://tribes.tribe.net/gslinvestmentclub
If you are unaware it sounds like you are not filing your taxes correctly and may be in danger of an IRS audit.
When selling MLPs you need to use the K-1 sales schedule not your brokerage statement.
That's not too difficult but if you are selling partial positions it gets very complex and even Turbotax doesn't handle it correctly.
If you sell your entire position in one MLP, it is straightforward.
Where it gets 'fun', is if you try to sell a partial position. I believe TT doesn't handle that properly.
For that reason, I will not sell a partial position. All or nothing.
I too want to thank all for some very good info. I do feel sorry for the investors that are afraid to buy MLP's and LLC like LINN, because of the K1. I have found it worth the money to have a good CPA take care of my taxes. I do have 7 MLP's in my regular account and 4 in an IRA. I have never been hit with a UBTI. I did buy my first MLP in 1995 and wish I would have started sooner.