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Yes, absolutely.

You can also invest in corporations such as Kinder Morgan (KMR) and Enbridge (EEQ). In simple terms, KMR is a corporation version of KMP, which is perhaps the largest MLP in the US. KMR's tax treatment is different than KMP's but what's "under the hood" is basically the same.

You'll need to take note of Unrelated Business Tax Income for MLPs (not corporations). I'm not a tax professional, so will not give the best advice, but in short, income you receive from MLP's in Roth IRA may be subject to tax -- yes, even inside IRA! Threshold is $1000, i.e. up to $1000 income is not taxed. Read more here:
http://www.fool.com/taxes/2000/taxes000908.htm

A few links as to KMR vs KMP:
http://boards.fool.com/Message.asp?mid=22604354&sort=who...
http://boards.fool.com/Message.asp?mid=22520984

Hope this will help.
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