I own some USO and came across this post that is supposedly off the Stansberry & Associate Reseach newsletter: "I purchased 500 shares of USO last year and held it for less than 2 weeks. I made a little over $2,000. In March this year I was informed in a K-10, I think it was, that I was also liable for over $3,000 in gains that I did not realized. I called the company and was told that they do not pay taxes themselves but profits or losses are passed on to the investors. So I paid personal income tax on a gain of over $5,000 and 60% was on income I did not receive. I'm glad I didn't trade more than 500 shares. If I would have traded enough shares I could have been a millionaire of unrealized gain. I know USO is widely recommended but I will never trade it again. Have you heard of this before?" Does this scenario make sense to anyone here?