lawman
Thinks s/he gets paid by the post
I'm told that if I buy an MLP such as EPD that for the most part my distributions are tax deferred. I'm also told that if I die without selling that MLP that my heirs will likely avoid paying a lot of tax because their base becomes what the value is at the time they inherit it..Two questions; 1. How and when are distributions taxed & 2. How are taxes and distributions treated if inherited?