Really appreciate your inputs!
On the split of "profit", I kind of understand it now. However, just being curious - assuming the unit market price stays flat between my buy and sell, I guess the K-1 sale schedule numbers (cost base adjustment and ordinary income recapture) will be the same (which I believe are irrelevant to the unit market price). That will imply that although I received only $2400 distribution, I will need to report $3800 income and pay the associated tax? In another word, investing in MLP (or PTP) bears a lot of uncertainty of tax liability. Not sure if my understanding is correct. (in my actual case due to the appreciation of the unit price, I am doing ok)
