Master Limited Partnerships - Waiting for Godot (that blasted Schedule K-1)

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Master Limited Partnerships - Waiting for Godot (that blasted Schedule K-1)

MLPs Generate Schedule K-1s (Partner's Share of Income, Deductions, Credits etc)

Great returns and high yields have made Master Limited Partnerships (MLPs) all the rage in the last couple of years. However, since MLPs are usually structured as partnerships for tax purposes, investors will not receive a Form 1099 at the end of January, but instead will receive an often complex Schedule K-1 (Partner's Share of Income, Deductions, Credits, etc) that may not arrive until the end of February or even later, delaying the completion of the investor's Form 1040

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Clare L Garner Jr CPA LLMT, Greenlee, Kurras, Rice & Brown PA | Attorney Advertising

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