So you have to file all those k1'a in a ira or roth? How do you determine if you have too many mlp's? Or is it safer to play an exchange trade fund that deal with just mlp's, are their k1's to file with those etf?
UBIT over $1000 kicks in taxes even if held in a tax defered account. This is extremely unlikely from what I've been told and I've never triggered the tax with my holdings. I'm also not a tax lawyer nor accountant so you'll want to do your own reading or speak with a qualified and trusted professional.
I don't buy any ETF's so I can't really comment. I do know that some ETF's don't work in the manner in which you'd think they do. I know someone that owned a natural gas short ETF or something like that and even though the price cratered they actually lost money!
Personally, I'm a big believer in finding quality companies that return cash to shareholders and I buy individual stocks.