I Bought, Sold, and Bought IEP again
I bought Icahn Enterprises $IEP stock in mid-2022 and sold in December before buying again. Icahn Enterprises is the main investment vehicle of legendary activist investor, Carl Icahn, and the company is structured as a Master Limited Partnership.
Master Limited Partnerships do not have to pay federal income taxes, but the partners (that is, investors) have. Recently, the IRS set new regulations on MLPs for foreign partners, forcing them to pay taxes even if they sell the stock at a loss. eToro, therefore, converted the real shares of IEP on the platform to Contracts for Difference (CFD), and I decided to sell. But after reconsidering it and assessing the risk, I bought it again.