Here is all you need to know; I think
Plusses- Most of your distribution is tax free return of capital
Box 16-foreign tax credit-not quite sure on this one.
Return of capital means your basis goes down, so when you sell you profit is higher.
You have to decipher the K1
If you use a paid preparer you may ber charged more.
plusses you don't have to worry about K1 or profits when you sell--everything is just taxed when you take it out of you IRA acct.
Box 20V if you have excess profits here it may cause you tax issues EVEN WHEN it is in your IRA. REAL WORLD--it is always negative.
Having tax free income in a tax free account 'wastes' the tax free part because when you withdraw from your IRA you will pay tax on that withdrwal. If it is in a taxable acct it is 'truly' tax free.
well, if you have it in your IRA , when you withdraw it it will ALL be taxed as ordinary income. Isn't that worse than having half be ordinary income? If you are owning it in a taxable account, you may get some ordinary losses, plus most of the distributions are not taxed in the year you get them (deferred). Depending on you tax situation, you may get MANY years of tax advantage, and down the road you may sell it when your rate is lower or let your heirs inherit.