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tax intricacies of mlp in a roth ira
user
you seem to have it right.  unless you have a big position, having mlp shares in your ira will not cause you any tax hassles.  your ira will get a schedule k from the mpl (which may be mailed to you), but you won't need to do anything with that unless you're over the ubi limit.  last i checked, that was $1000, and you probably won't exceed that. ubi in principle needs to be evaluated every year, so it's not necessarily a "one-time" event.  if your ira does go over the ubi limit, your ira (not you) needs to file a return.  in that case, contact your custodian and tell them about the schedule k that you got. see also my answer here: tax consequences of commodity etf the question is about commodity etfs in iras, but the part of my answer about ubi applies equally well.
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