Beware of the spammers and touters. This guy is one of those. Joined Today - about twenty posts about the current stock he is pumping (and dumping).
I'm a long-time owner of ETP and nine other MLP's. Some of these are in my IRA.
I do not buy a large position in any of these in my IRA because of the UBTI issue. I figure if I don't have a large position in any of them, then the chances of going over $1000 UBTI in any single one is minimal.
Here's the question: If you have an MLP that has consistently shown a loss on this line, is there a carry-back provision to reduce the effects of a weird (positive) year?
The accounting on MLP's is almost impossible to grasp. I do understand the reason for the UBTI provision, but I can't transfer the reasoning of the tax law to something I can understand from an accounting view.
There's a wealth of information included with all of the MLP K-1s, I receive. I've been under the impression that you could calculate your basis with the info they give.
Am I mistaken here? I've been in MLP's for about 20 years, but have never sold one so far. I'm in the "Death do us part" camp, but things can change.
Is your business model so poor that you can't afford advertising?
Nasty boy. Nasty spammer. Go F! yourself.
scott - you make way too much sense to be posting on this board of silliness...
You are the kind of person I would vote for. Why aren't you running for office?
Sort of a backdoor compliment.
There's some really funny guys here, so I guess I ought not to spoil your party.
I guess I ought to lighten up and go to Seeking Alpha or Investor Village if I really want to get some useful (as opposed to humorous) information.
By the way: I am a serial Hater. I hate them all - Obama, Biden, Pelosi, PETA, the Tea Party, Marx, Trotsky.... you-name-it and I hate it.
Maybe I belong here?
I'm a new owner of this stock, so I have not been following these posts long enough to know the answer to this question. The question is:
How did this board morph from a discussion of the merits/demerits of this stock into a political discussion?
If any of you other seekers of wisdom think this needs to be corrected, how about we make a concerted effort to report some of these off-topic posts and correct this?
Thumbs up if you agree.
Also - Yahoo just might pay attention if we start reporting these miscreants as spam.
I read a report a while back about stocks like this. It mentioned the Three-U's... unknown - unloved - and unfollowed.
I doubt that this one is on many people's radar. I don't think too many people are interested in an obscure Chinese stock. I don't think that there is going to be a change in this lack of attention.
If we are going to make a profit on this stock, it is going to be from a buyout - or something that happens to put it on the radar. I'm sitting here trying to remember what it was that caused me to buy this one in the first place. I'll be damned if I can remember why... I suppose it was a low PE and a large stack of cash on the balance sheet. I should have kept better notes.
China has an expanding middle class - they will be buyers for upscale TV services - and the smart cards that this company produces seem to be a viable product. The product is scaleable to other markets outside China.
I may not buy any more, but I'm holding for the time being.
Will Yahoo ever be able to get these spammers off their boards?
Yahoo: your inattention to these a-holes is undermining your credibility. Stop it while you can.
I don't think that is allowable until they post it through official (SEC-approved) channels.
Something like this would have an immediate effect upon the stock price. They are not allowed to do it piecemeal and notify one group of shareholders before the general public has a chance to see and react.
There's people in jail that have done things less offensive than this.
Thanks for your informative reply. I'm familiar with the UBTI and line 20-V, and have been watching my K-1's for that part. All of my IRA MLP's are in pipelines, and there's only the occasional positive number on 20-V.
The "ageing-out" part still lurks. I've had some of then in the IRA for ten years or so, and pretty soon, I will have received all of the purchase price in distributions.
What are the implications of this situation? Hypothetical case:
Pipeline A: Bought for $25,000 in 2000. By the end of 2013, I have received $27,000 in distributions. Ending capital account (Line L) will go below zero. Difference equals $2,000.
Will the $2,000 be all UBTI? If so, will the tax be on the total $2,000, or will there still be a $1,000 threshold before tax begins, and the tax would then be levied on the excess $1,000?
All things being equal, it's my expectation that I will keep these MLP's in my IRA until I croak. It is my assumption that (under current tax law), the basis will step-up to current value, and the tax otherwise payable if I sold while I was alive will not be due. Is this correct, or is there a Gotcha! buried in there somewhere?
My CPA has been discouraging IRA MLP investments for some years now. I have resisted his thoughts because all of my MLP's - IRA account and regular account - have performed much better than any of my other stocks. I can stand a bit of a tax hickey if the investment performs well.
Just because someone is a reputable CPA does not mean that he is conversant with the arcane rules on MLP's.
Thanks for your help...
Arbtrdr and others: thanks for the useful info.
Let's assume that someone exceeds the $1000 limit.
What will be the tax rate percentage applied to the excess? I assume that it starts at a very low percentage, and does not escalate until you've earned a substantial amount.
Also: can you offset over-limit gains on one MLP against UBTI losses on another?
I've got a couple of MLP's in an IRA that will "age-out" soon (meaning that I have received the full purchase price in distributions), so am I correct in assuming that any distributions beyond my cost will be subject to the UBTI tax?
Obviously, this is a not-well-understood area of tax law. Thanks for you comments.