Do any of you own SXL and/or have thoughts about it? I'm rolling over a mutual fund to a self directed brokerage IRA and am looking for good and relatively safe high yielding income stocks. I already own BPL and am very happy with. However, I would like to diversify. SXL appears to meet my objectives, I am especially impressed with it's dividend growth. TIA.
Ipturner...How long have you had these MLPs in your IRA? And could you give us a ball park figure of the amount of holdings that one would have to have in MLPs to trip the $1,000 trigger? I know that it would depend on the MLPs but I assume that your MLPs are in the energy arena. TIA SC
Could you elaborate on that issue? I have been hesitant on adding mlp's to my IRA because of the K1 filings. Since that "income" is reported via the Fed's, you would have to pay up-front taxes (K1) on the distributions. Of course any gains paid on plain equities do not have to be reported as "Income" if you are not drawing income from the IRA.