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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