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Hi AJ,

Here is the exact wording in Vanguard's letter (Any excuse to avoid climbing up the ladder to put up Christmas lights. Every other house on our block is already lit up every night, bright as a supernova. No doubt in my mind its to fight off the covid/political scene blues, who cares about the electric bill):

"Master limited partnerships (MLPs) in an IRA: Vanguard Fiduciary Trust Company (VFTC), the custodian for IRAs held at Vanguard Brokerage Services (VBS), is responsible for IRS-990-T tax filings for MLPs. VFTC will begin charging a fee of $300 per account for these filings.** VBS will facilitate collection of the fee by deducting the fee amount from a client's brokerage account when a filing is required.

**The fee applies to tax filings for the tax year 2020 and thereafter. If you're a Personal Advisor Services client, this fee will be waived"

Many many years ago I had an MLP in my IRA, which I sold off quickly. So, I posted this just as a heads up in case someone relatively new happens to have an MLP in their IRA.

Thanx to all that added on with more useful information. As for me, I'd rather have to climb K2 than have to figure out a K-2.
Back to the tv to over-indulge in college basketball...makes the world problems disappear for me, 40 minutes at a time.
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