I'll point out one thing you have to be vary of should you sell the MLP and IRC section 751 comes into play. that basically is depreciation recapture. what happened to me on one MLP help about 10 years was I got the suspended loss deduction but that was more than offset by the751 recapture. for each $1 of suspended loss there was $4 of income recapture. the longer you hold them the higher this differential could be. the effect of the 751 recapture is to reduce capital gain or increase capital loss on the sale because the 751 amount adds back to tax basis for figuring capital gain/loss. in my case it put me into a higher tax bracket. NOT ALL MLPS HAVE 751 RECAPTURE
