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Enterprise Products Partners L.P. Message Board

  • twfry_2001 twfry_2001 Feb 21, 2012 12:46 PM Flag

    Schwab request regarding UBTI in IRA

    EPD is a core holding of my standard brokerage account, which is very heavily weighted towards MLPs.

    I also have a little in a Schwab IRA rollover, and just received a new IRS notice from them.

    Schwab said this year I need to send them my K-1's, so Schwab can send them to the IRS, if the total UBTI is over $500 or negative.

    My IRA MLP holds are small, so I don't think I'll hit this level, but this news makes me think it is time to drop MLPs from my IRA.

    Had anyone else seen anything similar to this?


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    • Just follow these prompts in schwab online. When have summary lines up- hit research then add epd for stock then hit reports then hit CREDIT suisse reports. The first edition usually has a section on mlp's. Twice a month usually has rundown of 2 or 3 picks . I am 38% cash. But what I have started doing is buying leap calls. i.e mwe Jan 2014 buy to open calls. If you can see epd at 60 Jan 2014 then you control 100 shares for a very small amount of money.See what makes sense 50's 55's or 60's. I did that with MWE and KMP Jan 2014 leaps. As far as other selections
      we may be to late for straight oil stocks as EOG or late for aapl and IBM What I am afraid of is sell in may and go away sceneario. We are 2/3 into quarter and oil is going up so I think you have to be almost fully invested or 70% OR 80% BECAUSE all curious george can do is sell from strategic oil supply.and almost at world prices. NGLS SXL MWE and in May EPD just appear to be where the focus has to be for near term. I would talk stocks but cloud and baidu and aapl and ibm and oil and health are only good areas now

    • I usually read Yves on the IV Board. Can downoad them usually thru TD Ameritrade.

      I really suggest filing a 990T to preserve the last 3 years. Congress is going to start digging and turning over rocks to raise taxes with existing laws. I have no idea what the statute of limitations is for late filing a 990T to hold a credit, but suspect 3 years from time return was due. Just file it yourself with a scribble for the signature.

      I am currently with almost 20% in cash. Am usually totally invested. Do not see any direction in the market right now. Need to find something outside of MLPs as they are over 50% of my portfolio.

      I am at IV most days. PM there easy and private.


    • Remember to stay diversify....heavy investment in one sector is never a good thing.

    • So your unhappy about what I wrote well here are the mistakes that you told everybody. #1 Schwab has sent out the statement for last 5 or more years it is not new. #2 The threshold is $1,000 dollars not $500 # 3 The numbers have to be positive not negative as you stated

    • You should get out of mlp's because you aren't understanding what you read and hopefully don't send out the information as knowledeable. YOUR TOTAL mlp position in your IRA is what you need to add and subtract,when you get ALL your K-1's. If And When it totals a positive over $1,000 for year minus other years negatives from your present holdings subtracted from present year. DON't have large positions in e & p's such as evep bbep line (PAA). Have a good position in KMP. But you are right get out of mlp's until you READ and UNDERSTAND this group.

      • 1 Reply to nymarv10956
      • Do you enjoy running around making personal attacks on people, based on zero understanding?

        I have invested in MLPs for over 10 years and understand the sector and tax consequences better than most people. There was ZERO information you posted that I don't already know.

        My question was simply if others are receiving notices from their broker on IRA holdings, as I'd like to know how wide spread this is.

        That is a reasonable question.

        For your information I have 1 MLP holding in my IRA with less than $10K total, always to stay under the UBTI limit, so your comment was completely irrelevant.

    • I just sold my shares,but i had 3000 shares in my roth and havent got any notice from ameritrade
      and that was on EPD.

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