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Take your taxable ordinary income, and pay tax on that amount at the appropriate rate. If you have not used up the 15% bracket, any LT gains and QDI which would take your taxable income to the top of that bracket are taxed at 0%. If you have not used up the 25%, 28%, and 33%, and 35% brackets, any ...

livesoft wrote:Have you tried to plug some scenarios into tax software? Taxcaster is an excellent "What if?" tool. Find it online.

Thanks for this suggestion. I just pulled it up and I will do some forecasting when I pull all my numbers together.

Got it this time... hmmmmm, another misconception dispelled. Until I looked at those bar charts I was under the impression that once my taxable income exceeded the 15% tax bracket threshold ALL of my QDIVs and LTCGs were taxed at the 15% rate even that portion that were under the 25% tax bracket flo...

see the stacked bar chart by tfb here for an intuitive way to understand/remember this concept: http://www.investopedia.com/articles/tax/08/file-seperately.asp#axzz2KDxRhnt8 [/quote] Thanks. I need to think about your response for awhile. I am still puzzled as to why Ord Dividends (Line 9a 1040) are...

I am confused regarding the calculation of taxable income and the impact the resulting tax bracket has on what I pay in federal income tax on my Qualified Dividends (QDs) and Long Term Capital Gains (LTCGs). In reviewing the IRS-1040 I note that QDs are placed in a column to the left of the column u...

I've been contacted by a barrister from Africa who is going to cut me in on a sweet deal that will net me over 1 million bucks... I can't say too much about it because the barrister has told me to keep the details of our transaction secret. Anyway, I'm wondering how I should invest this money. Any s...

I think I'm getting sleepy... All of the MLPs I found attractive were pipelines, except one MLP which is coal... I'd definitely get a good nights sleep if one or two others shared similar experiences to yours relative to pipeline MLPs...

Thanks Al, you are a great source of info.

I’m not sleeping well because I bought MLPs in my IRA without realizing the implications of UBTI (and the possibility of my broker assessing me hefty charges to prepare the 990T). When I started buying MLP recently, the yields were all over 8% with some in the double digits. Within a month the value...

I've been reading the TurboTax literature and can't decide which edition [Deluxe; Premier; Home & Business; Business] of Turbo Tax works best for my situation... I've invested in a number of MLP's this year in a taxable account... I'll have some income from the purchase/sale of stocks... I have ...

What version of TurboTax will I need to purchase so my MLP data gets properly computed?

Thanks for all your help.

Thanks AL and all for the good info... If any of you have additional info or are aware of any additional tax forms that need to be filed by MLP owners please feel free to chime in... Looks like I'll be buying TurboTax next year and filing an extension request too! Ahhhhhh, the joys of trying to make...

I understand that I'll be receiving a K-1 and it will require me to transfer numbers from that form into my IRS forms... Everywhere I go to find out EXACTLY WHICH IRS FORMS need to be completed, I get vague, generic answers... If there is someone out there who has actually owned an MLP (pipeline), t...

Good info provided here guys, THANKS! I have a followup for you Al (that link to Invstr Village was great by the way) or anyone else who has first hand knowledge/experience... What tax forms and schedules will I need to file each year to capture all of the complexities of MLPs owned in a non-IRA bro...

and if they don't now that 'MLP" is Master Limited Partnership and "UBTI" is unrelated business taxable income I'm afraid I've wandered onto the wrong site in search of my answers... My questions are very technical because the tax code and attendant tax form requirements are complex. ...

I've been reading the pros, cons and cautions regarding MLP investments in IRAs but a couple of critical facts elude me: Most everyone characterizes the UBTI to be a negligible component of the quarterly partnership payout, yet I am unable to get a clear understand on exactly how insignificant this ...