![]() MLPs and LLCs can be a great income investments, since these organizational structures don't pay income tax but pass that burden along to investors. The pros and cons of trusts, partnerships, and S corps This article was updated on April 13, 2017. Let's take a closer look at the Schedule K-1 form, the implications for you, and what you must do with it. MLPs and LLCs are often able to pass more income on to investors because they don't pay corporate income taxes, but that comes at the cost of more complexity and potential tax implications. ![]() If you've ever invested in a business that uses one of several different types of legal structures, such as partnership, "C" corporation, or LLC, or if you're the beneficiary of a trust or an estate, then you've probably received a Schedule K-1 in the mail during tax season.
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