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CVR Partners, LP Message Board

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  • moneyonomics moneyonomics Jul 9, 2011 5:50 PM Flag

    UBTI

    ps, not sure what you mean about cannot offset loss from gain on mlp, so i am speculating you mean on the sale of an mlp in a taxable account. if that is so i disagree because in completing form 1040 all amounts are effectivley netted to arrive at net taxable income, so mlp's gains and losses on sales would be effectively netted 0n 1040 and thats why I would conceptualy support netting on form 990 .

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    • What I mean is in a taxable account, if your K1 from MLP ABC shows $ 10 of gain and your K1 from MLP XYZ shows $10 of loss (Box 1 operating income)you report the $10 of income on Sched E and carryover the loss until either XYZ shows a gain on a future K1 or you sell your entire interest in XYZ. After all, UBTI is just another name for operating income in most cases.

 
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