For those of you who have received K-1's in prior years (or 2012 when received) is there any UBTI - Unrelated Business Taxable Income. This impacts the desirability of holding inside and IRA. You can find it on the front page of the K-1, Item 20 Other information at far right and bottom item V as in Victor. Amount either positive or negative and number of shares or amount per share would be helpful.
You would be better off to move your MLP to a non IRA account. Even if your UBTI is under 1k each year when you sell they go back and add it all up for the special tax. If you have a MLP in a non IRA taxable account the tax return can get interesting. If you do your own tax return you will have a learning experience. If you pay a professional the return can add considerable expense. Also you may be required to file State returns in each state than the required amount of income is generated , your home state if any amount . You may be better off with some Preferred stock.