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Hi Beishma!

The UBTI issue (unrelated business taxable income) which I mentioned in my post is an issue specifically for tax-deferred accounts....not taxable accounts.

As to KMI buying out it's MLP's (KMP and KMR)....well, I owned KMR....and when the buyout was announced by KMI, all I had to do was sell my KMP on the open market....which I didn't do....and thus suffered the KMI post-merger price decline debacle. KMR (versus KMP) did NOT suffer the tax hit/complications that KMP did.

To be clear....the choice was mine, with plenty of notice.

Of course, hindsight is perfect. ;-)

Cheers!
Murph
II and PP Home Fool
(long KMI.....and who has made some profit back on a series of KMI calls and puts as it as cycled)
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