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Author: zaney100 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 124814  
Subject: Re: Limited Partnership in IRA worth 0 Date: 6/18/2001 8:32 PM
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Thanks Chris. I bought LPs when I was a new investor and the broker who sold them has long ago sailed away into the sunset. (The brokerage firm is still looking for him, in fact.) The LP representative told me there would be no final distribution, period, and they will not change ownership on them any more so, they are not sellable. I know better than to call the IRS for information. I talked with 4 different IRS people trying to find out about filing a 990-T on LP earnings within an IRA last year and none of them ever heard of such a thing. Finally, after emailing chats with Roy Lewis, a contributor to the Fools' Tax forums, I urged my broker to file as it is their responsibility as custodian. This is the last LP and when it is finally closed I will never, never consider one again!
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