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yes it is. they do not know what kind of account you have it in. that said, i would recommend that you do not use a tax deferred account to buy any MLP.
I appreciate the response, can you elaborate on why it's best not to be in a tax differed account?
OK, did some DD, I get it!
Yes, they do know. The K-1 even indicates if it is in an IRA account. You need a K-1 even if it's held in an IRA in order to determine whether you owe UBTI tax.