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Linn Energy, LLC Message Board

  • Has anyone receivedLINE 2009 K1 as of Mch 6

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    • I believe they're not expected until March 20 (online).

      • 1 Reply to PSHONORE
      • Paul,

        "I believe they're not expected until March 20 (online). "

        That's my understanding as well.

        I'm interested to see how they report UBTI this year. Wrote Rockov and Clay Jeansonne last year and asked them to implement the manner EVEP uses - that is to say, not representing UBTI as Ordinary Income...i.e. duplicating Line 1 of the K-1. Clay and I had subsequent discussion re: the EVEP approach, he is also a unit holder of EVEP and noticed the difference between the way EVEP and his own firm represented UBTI. He is sympathetic to unit holders that have LINE in tax-deferred accounts, and said he would raise the issue with Rockov and accounting - but in the end, if it is a "battle" btw IR and Accounting, my guess is that Acctg will win.

        (OT)As you noted EVEP's UBTI came in with astronomical numbers for 2009. I wasn't counting on that and it looks as though Schwab will be filing a 990-T for me this year - I know that even before I see the K-1 from LINE. Btw EVEP, LINE, ENP, LGCY, and MWE et al I think I will have a good handle on tax rates above the $1000 minimum on UBTI in tax-deferred accts...I have already sold all of my MLP positions inside Trad and Roth IRAs - aside from other asset management reasons I just don't like the idea of paying the government twice.

        PS I sent you a PM on IV.