Quote:
Originally Posted by Stu from NYC
Was very happy when my limited partnerships were done and did not have to deal with them.
Running a business and reporting wages was more than I wanted to deal with.
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totally agree. It sux to have oil and gas publicly traded LLCs because the IRS requires you to pretend to be an owner of 0.000001% of the company, and you have to file all the expenses of the company as if you were the company, times 0.000001%., including oil and gas recovery taxes and credits, etc. . totally sux. . The GP files a very limited income tax return. . .
Even though the interest rate was great, the filing headaches were more than enough to sell the stock
ASAP. . and reminder to never buy another one again. . .