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URL:  http://boards.fool.com/lps-are-not-good-vehicles-for-frequent-small-31188174.aspx

Subject:  Re: Tax prep for Limited Partnerships Date:  3/29/2014  8:59 PM
Author:  Wradical Number:  120625 of 121219

LPs are not good vehicles for frequent, small trades. They're better suited as a long-term investment.

Unlike stocks, your cost basis changes daily, because you pick up your share of the partnership's income, expenses, gains, losses, etc. on your K-1, and your cost basis is adjusted accordingly. And you don't know those numbers until you get your K-1 when the year is over - INCLUDING, how much is ordinary income, as opposed to capital gain/loss.

Bill
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