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Enterprise Products Partners L.P. Message Board

  • missinoutagain missinoutagain Aug 27, 2012 6:53 PM Flag

    EPD in IRA/ROTH IRA

    I just did some research on tax implications of holding MLP's in retirement accounts, some of which came as a surprise to me.

    I wish to keep my taxes as simple as possible, what account would be best to hold EPD? Taxable, IRA, ROTH?

    For IRA investments should I simply hold an MLP ETF?

    My taxes last year were very complex (and expensive to file), and to be honest i did not fully understand what needed to be done for the MLP's. Tax accountant had her way with me (in a bad way)

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    • Sounds foremost like you need a new accountant. If you have not made any sales of part of a position then MLPs should only take a minute or two apice to enter the data into a computer. Took me about 1 hour to enter the data for 12 MLPs into TurboTax.

      There are possibly taxes on the sale of a MLP inside an IRA from recapture. Also if you have $$ outside an IRA then why put a tax shelter in a tax shelter. Furthermore you lose any capital gains and turn them into ordinary income.

      Inside an IRA an ETF is OK as are I shares for both Enbridge and Kinder but the ETFs come with significant fees.

      MLPs were designed for holding in regular accounts and thus the special UBTI tax. While this historically has not been an issue with EPD it does complicate things tax wise. Suggest you go to naptp website and read their primer on MLPs.

      ARB

 
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