MLP newbies should note that if you hold this, you will probably owe taxes each year on your share of the partnership income, even if you are receiving no distributions.
I have been reading and understand the partnership tax issue, the no distribution issue for 2013 and tax due without distruibution. I dont understand why would anyone buy right now since the distributions are halted but you will still have k-1 income and taxes.
Well, if people believe the problems are temporary and that they can reinstate a distribution after a few quarters then this would clearly be a very good purchase price. If things turn around then they could have a very high yield on cost as well as a multi bagger price gain. However it's also possible that things get worse and it's a wipeout (total loss). There will always be speculators who are willing to take a big risk for a possible high reward.
And you prove that you have no idea what you are invested in. You apparently are under the impression you are a shareholder rather than a partner who is liable for your proportional share of partnership income. A few minutes research would help you understand you are wrong. Google about Schedule K-1 as a first step. You will soon find why MLPs are called 'pass through' taxation vehicles (they pay no taxes at the partnership level, but the tax liability is 'passed through' to individual partners (unitholders). If you were a unitholder in 2012, you can expect your K-1 in late March (available online at taxpackagesupport on March 6th). Suggest you don't ignore it unless you want a letter from the IRS enquiring why you didn't report all your income. If you didn't acquire units until 2013 then you have a year to figure out what you invested in as you will not receive a K-1 till a year from now.
Like I said, newbies.
You will have positive income allocated to you on the K-1.
You will have to pay taxes each calendar year, even if you don't receive a distribution.
This is not a pipeline, most of which reports negative income.
Your share of partnership income will be positive.
K-1s will be out soon and you'll see.