I BOUGHT 1000 SHARES MSB ON 07/15/2013 FOR $18,227. I RECEIVED 2 DISTRIBUTIONS TOTAL $970.
AFTER ENTERING ALL THE INFO FOR MSB (TURBOTAX) MY TAXES WENT UP BY $280.
THIS IS ALMOST 29% = 280:970*100%. I THINK IT'S A LOT. PLUS TAX BASIS DECREASED BY $90.37.
NOT VERY TAX ADVANTAGED. I DON'T THINK I MADE ANY MISTAKES.
depletion was only $107.52.expenses $32.20. interest income only $.09. royalty income $1019.26.
distributions i received were $970 on 1099-misc. you enter it all through TURBOTAX. on 1040 it adds to income $1,019.26+$.09-$107.52-$32.20+$970. It seems unfair that it adds distributions to the income. but i followed instructions entering everything through RENTALS & ROYALTIES at TURBOTAX