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Correction to Personal Finance Article -- 2/17/10    Back to Corrections List
 Corrected 02-17-10
by Morningstar Staff  
This article was edited to correctly read: MLPs are taxed in a unique way, and generally should be held in a taxable rather than tax-sheltered account. MLPs are not taxed at the corporate level. Instead, a proportional share of income is taxed at the individual level. This is why partners (as owners of MLPs are called) receive a special tax form (K-1), which breaks down the income attributable to you. This income is taxed at your marginal tax rate, not at the qualified dividend rate.  

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