I'm starting to investigate the whole world of MLP's. I have a good accountant and he can deal with the K1's, so they don't scare me off. But I do need to know if there is a point between now and Dec 31 that I can buy an MLP if I find one I like and "not" get a K1 for 2010? Or do I have to wait until Jan 1, 2011 to avoid the headache in the short term? Or is there a better way to think about these things? Thanks in advance for dealing with a newbie.Vegas
some mlp's have different fiscal years and you might find yourself getting a revised k-1 in september, but since your accountant will handle it.....and if your accountant will handle it, why your question? minimize accountant costs? if that is it, will that incremental cost be significant relative to investment? another and.....if your decision on what mlp to buy is based on when the k-1 is issued, maybe you should just buy an MLP ETF.
Vegas, here is a cross post link from the REIT board on mlp's:http://boards.fool.com/mlp-reading-28978347.aspxGood luck!
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