Message Font: Serif | Sans-Serif
No. of Recommendations: 0
This is the first time in my life I have no idea how much I will be owing on my taxes before the end of the year. not a clue to even estimating it.

I am doing a rough guess:

sale of MLP less cost = profit
then I added every distribution from day one:

so profit plus distribution = income that is then calculate for tax may be?

I got so desperate that I asked several of the MLP companies if they could give me some idea of return of capital so I could calculate this and one lady even laughed and said: "we don"t even know ourselves till next year!"

any one else run into this problem? going to have to barrow the money to pay an estimated tax. not fun.
Print the post  


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.
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.
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.