The Complete Guide to MLP Investing

MLP Fundamentals

• How MLP Distributions Work — Return of capital, taxable income, and why distributions aren't dividends
• How to Evaluate an MLP — DCF, coverage ratio, and the metrics that actually matter
• When to Sell an MLP — Tax consequences, phantom gain, and the basis trap

Estate Planning

• MLP Estate Planning Guide — 6-part series: every trust type, every scenario computed
• When Step-Up Basis Beats a Trust — §1014 eliminates ~$48,535 deferred tax on a 5-MLP portfolio
• The MLP Inheritance Playbook — Just inherited units? Start here
• Community Property Double Step-Up — WA, TX, CA, and 6 other states
• MLPs in a Living Trust — What your attorney didn't tell you
• MLPs in an Irrevocable Trust — When the tax shelter becomes the tax problem

K-1 Tax Guides

• Why Your Broker's Cost Basis Is Wrong
• K-1 Basis Worksheet Explained
• Section 751 Recapture
• MLP State Filing Requirements
• How Distributions Erode Your Basis
• MLP in an IRA: UBTI
• Box 19 Distributions

K-1 Guides by MLP

• Energy Transfer (ET)
• Enterprise Products (EPD)
• MPLX LP
• Plains All American (PAA)
• Western Midstream (WES)
• Cheniere (CQP)
• Sunoco LP (SUN)
• USA Compression (USAC)
• Natural Resource Partners (NRP)
• Black Stone Minerals (BSM)
• CrossAmerica Partners (CAPL)
• Delek Logistics (DKL)
• Antero Midstream (AM) — No K-1 (C-Corp)

Tools

• K-1 Basis Tracker — Free IRS-adjusted basis calculator for MLP investors