It is apparently somewhat complicated according to brokers and CPA's I have discussed this with. Historically no one worried about the K-1's or the potential for taxable income in a tax-deferred IRA or similar accounts. But, there was apparently a change in the law in the tax cut package after the current Administration came in. And, ever since ETP was merged into ET and ET assumed all of the tax issues carried forward, I have been receiving a lot of notices on the potential for having a 990-T filed in connection with my holding by the entity holding my account, and it relates to the potential owing of tax on UBTI, as discussed in the link below. And, it becomes a bigger issue in any year in which you liquidate holdings in a MLP or LP in an IRA, etc.
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