With closed end funds will I get funky K-1s or Royalty statements?

I love MLPs and royalty trusts for their fat yields, but I HATE getting those K-1s and/or Royalty statements (Schedule Es?) each year for each one, ton of work come tax time. If I hold closed end funds, will I ever get anything like that? Or will I just get like 1099-DIVs and gain/loss things that are combined will all the stocks in my account, just like regular stocks? In other words, if I hold IBM, McDonalds and Home Depot and they all pay me a dividend they all show up on one 1099-DIV, and I just have to plug in one dividend number of my tax return, I don't have to go through a schedule for each one.

Thanks!

 

Do you want tax agents and accountants to lose their jobs and livelihoods?

 

Thank you ph1l!!

 

1. "Simpler tax reporting. Investors looking for income often are drawn to master limited partnerships (MLPs), a popular structure for U.S. energy companies, which pay out a high percentage of cash flow to unitholders. But owning MLPs directly means managing K-1 forms and multiple state returns at tax time, detailing what income is profit and which is return of capital. This necessitates careful record-keeping of your cost basis and tallying how much it gets reduced each time you get a return of capital. A closed-end MLP fund handles the K-1s and provides your tax information on the simpler 1099 form. Yields vary, of course, but overall the simplicity doesn’t detract from returns: The average yield on MLP closed-end funds in the year through July was 9.6%, according to Lipper. The average one-year MLP yield was 8.8%, according to ML"
2. ...
3. https://www.forbes.com/sites/insigh...-funds-a-better-alternative/?sh=6acb00782609P Data.

 

I think only the Canadian Royalty Trusts and the US MLPs have them. I used to own a lot of those but they were a pain to fill out every box correctly. I sold them all and bought an ETF that actually handles it themselves.

The stupidest thing was most of the K1s came after the April 15 deadline anyway so you had to estimate the tax hit yourself. When I was part owner of a start up back from 1998-2008 (it was S-Corp) I used to get a K1 and it never arrived before June or July so that was another pain.