I want to place a master limited partnership or publicly traded partnership in an IRA. However, if the MLP / PTP has unrelated business taxable income (per unitholder basis) over $1,000, the IRA trustee must file IRS Form 990T and report that income. The tax due is withdrawn from the IRA by the trustee, to pay the tax due.

Anyone have experience doing this? What do the broker / trustees charge for this additional work? ❓