5 year Market Outlook opinions

Closed Thread Subscribe

Page 24 of 94

« First

Last »

Thread Tools

Search this Thread

10-28-2021, 08:42 AM

#231

Trip7

Gets Weekends Off

Joined APC: Dec 2007

Posts: 5,602

Quote:

Originally Posted by GogglesPisano

So if you keep an MLP in your Fidelity Brokerage Link account, do you have to include any distributions on your tax return? Or is it like dividends? I would assume as long as it stays in your Fidelity account and not withdrawn you do not.

Do not, I repeat, DO NOT put MLPs in your Retirement account. This includes brokerage link.

However, investors should be aware that MLPs are inappropriate investments for retirement accounts. In fact, if you own an MLP in a retirement account, you could actually owe tax on your investment.

https://www.simplysafedividends.com/...-mlp-tax-guide

Sent from my SM-N986U using Tapatalk

10-28-2021, 08:50 AM

#232

Trip7

Gets Weekends Off

Joined APC: Dec 2007

Posts: 5,602

Quote:

Originally Posted by Planetrain

MLPs and their K1s can be a big pain to hold outside of your retirement account when tax time comes. Sometimes they can really nail you, be careful.

K1 cashflow is far superior to W2 income. My goal is to have more K1 "income" than W2 income. For example a Delta Captain making 300k in W2 income and 300k in rental and MLP income will pay significantly more taxes on the W2 300k than the K1 300k as most of the K1 cashflow is offset by Depreciation or return of capital tax benefits. These benefits far outweigh the extra effort you have to spend tax time. Moreover, TurboTax has made the process easier but by the time I'm making 300k in K1 cashflow it'll be time to hire a personal accountant

Sent from my SM-N986U using Tapatalk

10-28-2021, 10:15 AM

#233

JamesBond

Gets Weekends Off

Joined APC: May 2015

Position: A350 Both

Posts: 7,292

Quote:

Originally Posted by Hank Kingsley

Google Jack Utsick. I flew with many a Delta pilot who lost their shirts. KISS.

I heard he is in Brazil or some other SA country hanging out on a beach... enjoying the fruits of other people's labor. I flew with a guy once that was all in with him. He tried to sell me on that and it stunk without knowing ANY details. I wouldn't have touched that guy with someone else's money.

10-28-2021, 10:40 AM

#234

Myfingershurt

Gets Weekends Off

Joined APC: Jul 2015

Position: MD-88 FO

Posts: 1,571

Quote:

Originally Posted by JamesBond

Nah. That guy got 16 year sentence back in 2015.

10-28-2021, 11:40 AM

#235

Planetrain

Gets Weekends Off

Joined APC: Jun 2015

Posts: 1,760

Quote:

Originally Posted by Trip7

I had 2 MLPs about 10 years ago and at tax time the K1s were a nightmare. First, mine came well after April 15. For the home filer (even with TurboTax/TaxAct/friends in the accounting industry) it was complicated. Mine fortunately were in Texas, but if your MLP does business in a state with state income tax, you have to individually file in each state that they have a tax burden as a corporation… err “partnership business”.
I was unaware of the UBIT dilemma holding them in the 401k. I don’t recall having had any UBIT, but I can see now why that is a red flag in the retirement account.
Trip, thanks for the link. It further solidifies that I’ll invest elsewhere from MLPs. Too much of a filing pain for the amount of money I would actually invest or make.

Tip: *AMLP* might make sense for the smaller investor looking for access without the tax filing burdens.

10-28-2021, 12:12 PM

#236

GogglesPisano

Gets Weekends Off

Joined APC: Sep 2013

Position: On the hotel shuttle

Posts: 5,908

So .....

When is a retirement account not a retirement account? When you hold MLP's.

10-28-2021, 05:48 PM

#237

SonicFlyer

Gets Weekends Off

Joined APC: Apr 2017

Posts: 3,788

This is scary

11-15-2021, 03:55 PM

#238

mispoken

Gets Weekends Off

Joined APC: Feb 2011

Posts: 766

Quote:

Originally Posted by Trip7

Aside from maybe getting in alittle too early, Burry is good at timing his trades. TSLA is one stock I wouldn't touch with a ten foot pole when it comes to shorting. No clue how long the market will stay irrational on its stock, and I'm saying that as a proud Model S owner:

Perspective. One more day like today and Tesla will be "worth" 2 Berkshires, despite BRK profit exceeding Tesla revenues.
As of today, $TSLA is valued above the entire global auto industry, PLUS Uber, Lyft, Progressive, GEICO (if public), Allstate, Duke Energy & Dominion Energy.

Sent from my SM-N986U using Tapatalk

https://www.zerohedge.com/markets/mi...rish-positions

NKA

11-15-2021, 06:21 PM

#239

Planetrain

Gets Weekends Off

Joined APC: Jun 2015

Posts: 1,760

Government iBonds now paying 7.12%
#inflation

11-15-2021, 08:22 PM

#240

Trip7

Gets Weekends Off

Joined APC: Dec 2007

Posts: 5,602

Quote:

Originally Posted by mispoken

https://www.zerohedge.com/markets/mi...rish-positions

NKA

Burry cleared out his Bullish and Bearish positions. Seems like he’s going thru a strategy change

Quote:

So with that lengthy preamble out of the way, we go to Scion's just released 13F for the third quarter ended Sept 30, which was most notable for... being almost empty. As shown in the table below, after aggressively building out his portfolio in the last few quarters, including billions notional across calls and puts, Burry appeared to have nuked his portfolio in Q3 when out of 22 total positions (including options) at the end of Q2, the former doctor had just 6 holdings, all long stocks (of course, he may well hold shorts but Burry is best known for leveraging up aggressively by buying calls and puts, both of which he has to report, and this quarter there were none).