for those buying HCLP inside of a retirement account.
Since HCLP is a limited partnership ("LP"), you will receive a
K-1 and be responsible for paying taxes on any gains/distributions
irrespective of the fact that it was purchased through a
retirement account. Happened to me with United
States Oil Fund, LP ("USO") a few years back. I questioned
Fidelity at the time - they researched the issue - and confirmed
that my receiving a K-1 and having to report the gain/pay taxes
that year was correct, even though I purchased it through a tax
deferred account.
Thanks for the input below regarding LP's. There is a $1,000
exception per retirement account so if you exceed that level you
will have to pay taxes. Otherwise, simply buy outside your IRA if
that is a primary concern if the investment meets your
criteria.
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HCLP Daily View
Posted by steve on 12th of Sep 2017 at 12:46 pm
HCLP - Chart Link - big level around $8.60
HCLP nice move there -
Posted by steve on 12th of Sep 2017 at 01:36 pm
HCLP nice move there - hearing a possible $1.00 distribution on 9/19 announcement.
I like to trim and trail on such pops..maybe get a backtest/pullback
Just want to point out a little known tax rule...
Posted by RichieD on 13th of Sep 2017 at 07:04 am
for those buying HCLP inside of a retirement account.
Since HCLP is a limited partnership ("LP"), you will receive a K-1 and be responsible for paying taxes on any gains/distributions irrespective of the fact that it was purchased through a retirement account. Happened to me with United States Oil Fund, LP ("USO") a few years back. I questioned Fidelity at the time - they researched the issue - and confirmed that my receiving a K-1 and having to report the gain/pay taxes that year was correct, even though I purchased it through a tax deferred account.
Just thought I'd pass that along.
k-1s are a pita!
Posted by morton7 on 13th of Sep 2017 at 09:19 am
k-1s are a pita!
Thanks for the input below
Posted by steve on 13th of Sep 2017 at 08:48 am
Thanks for the input below regarding LP's. There is a $1,000 exception per retirement account so if you exceed that level you will have to pay taxes. Otherwise, simply buy outside your IRA if that is a primary concern if the investment meets your criteria.