When will the tax information be available?
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Although the deadline imposed by the IRS is not until April 1st, we generally have the booklets and yellow worksheets mailed by March 1st.
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Is the cash I receive from the Trust a qualified dividend?
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No. The distributions are considered royalty income and are ordinary income, taxed at your marginal rate.
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Are the cash distributions taxed at the 15% rate?
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No. The distributions are considered ordinary income and taxed at your marginal rate.
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Why aren't you providing me with a K-1?
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We are considered a grantor trust, not a partnership and do not have the same reporting requirements that a partnership does. The cash distributions are reported on a 1099-Misc form by your broker, or by the transfer agents for registered Unitholders.
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Why did I receive this/these yellow worksheet(s) and booklet?
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 The yellow worksheet contains important tax information for the current year just ended. You should compare the information regarding the number of units and dates you were a unitholder of record (located in the bottom half of the yellow sheet) with your records to determine that the correct information was reported to the Trust. Once you have determined that the information is correct, then you can use the dollar amounts (located in the center of the yellow sheet) to report on the appropriate schedules on your tax return. If the information is not correct, then you must determine your proportionate share of the Trust revenues and expenses using the tax booklet that was included with the yellow worksheets.
Please consult your tax advisor regarding all tax issues for your specific situation.
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The 1099 I received from my broker shows an amount that is different from what I calculate using the tax booklet/what is shown on the Unitholder yellow worksheet that you sent me. Why?
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If there is a difference between your records and what the yellow worksheet shows, then you should contact your broker to compare the number of units owned and the times for which those units were owned. You will need to calculate your proportionate share of the revenues and expenses for the Trust manually using the tax booklet that came with the yellow worksheet. We cannot provide an amended worksheet.
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I received two (or more) yellow worksheets with different amounts. Why?
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If you have changed brokers, added or made changes to accounts already with your broker; or if you hold units with more than one brokerage firm, you will receive a yellow worksheet for the units held with each firm. Sometimes if brokerage firms have merged, the information is not merged together into one system. All of the above scenarios can result with you receiving more than one yellow worksheet. Usually if you add the worksheets together, it will equal the total units you own for the period your records show you owned those units. If adding the yellow worksheets together does not match the information in your records, then use your records and the tax booklet to calculate your proportionate share of the trust income.
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The yellow worksheet I received has the incorrect number of units on it. Can you provide me with a corrected one?
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No. This information is contained in a static database that cannot be changed or amended. You will need to calculate your proportionate share of the revenues and expenses for the Trust manually using the tax booklet that came with the yellow worksheet.
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The yellow worksheet I received has the incorrect times I owned the Trust units on it. Can you provide me with a corrected one?
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No. This information is contained in a static database that cannot be changed or amended. You will need to calculate your proportionate share of the revenues and expenses for the Trust manually using the tax booklet that came with the yellow worksheet.
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Can you tell me how to input the information from the tax booklet into my tax preparation software?
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No. Your best course of action is to calculate your information using the forms provided in the booklet and then try and duplicate the forms in your software. If that doesn't work, you should call the software manufacturer and speak to them about the specific forms used and how to fill them out.
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I own my units in an IRA/tax-deferred account. Do I need to report this information on my tax return?
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No, you do not report any trust income in an IRA or other tax-deferred account.
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