No. of Recommendations: 2
K-1's rank somewhere between irritant and nightmare for me, starting with the fact that they always arrive later than all my other documents and put my CPA in a bind. The 'good' news is that I am getting rid of another one this year as part of my 'tax strategy'. That is a lame joke. It lost so much money that I am selling it to offset gains that I am harvesting on the small local bank stock that I mentioned yesterday - so one less k-1 year after next for me.

I'm sorry for your loss(es). However, blaming your losses on the MLP and/or K-1 is not realistic. I would blame it more on the poor selection of an MLP to buy or poor timing when buying it. It's exactly the same as buying a stock at a high price and then selling it at a loss and then blaming the loss on the 1099 you receive.

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