Message Font: Serif | Sans-Serif
 
No. of Recommendations: 4
"Everything that goes on within the IRA is self contained. The only time that anything becomes an issue is when I take a distribution out of the account. "


Hi. I'm new here. Previous posts here and elsewhere have made it pretty clear that Master Limited Partnerships (MLPs) held within an IRA expose said IRA to the possibility of having to pay Unrelated Business Income (UBI) tax if that UBI is greater than $1000. See http://boards.fool.com/Message.asp?mid=20437973 .

While I'd like to believe that what goes on within the IRA is self-contained, the potential tax liability for UBI from MLPs makes me think transactions here may be considered as part of a wash sale.

I'm not a tax professional. I didn't even sleep in a holiday inn last night. So take this for what its worth.

jaloti
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement