PTP, MLP, I'm going crazy!!

[DaveinTexas]

Why is it when one financial advisor (probably on MSNBC or whatever) gets an idea for his clients to invest in MLPs or PTPs that every advisor follows suit?

I have clients that have a simple return; IE: can't itemize (house is paid off and they live frugally), no kids, W2 wage earners (almost a 1040EZ) except the fact that their "financial advisor" recommended they invest in a PTP that has almost every friggin' box and code on the K-1 filled in so I have to check the figures against the Sch A, B, E, E2, form 1116, form 6781, etc. etc.

Their fee for this $100 return just turned into $300 (but you can't really charge them that much because they have an "easy return") for their measly $21 in Passive Ordinary Income. I am going to go crazy!

Just ranting, no real question here.....carry on and try to stay sane!

[Gary2]

Perhaps it's time to refer to http://www.xtranormal.com/watch/7512...ple-tax-return, which I found via http://forum.thetaxbook.com/showthre...Business-Humor. It's not often a two-year old post sticks in my head.

[DaveinTexas]

Just Awesome sir!!

Perhaps it's time to refer to http://www.xtranormal.com/watch/7512...ple-tax-return, which I found via http://forum.thetaxbook.com/showthre...Business-Humor. It's not often a two-year old post sticks in my head.

Perfect end to my day, hilarious!!

[geekgirldany]

My broker said it was just like stock.

[Matt Sova]

Charge them

Give them their bill for $300. When they complain point to the K-1. Tell them that if they want a lower fee in the future they need to get rid of this junk.

Do you really think HRB or any other big box operation is going to give them a cut rate fee?

[FEDUKE404]

Even better laugh!

I thought this one was even better....how many of these "reasons" have we heard??

http://www.xtranormal.com/watch/7515993/home-based-business

FE