A. Unfortunately, the answer is NO.
While IRA and Roth IRA have great tax benefits, they do have limits. For example, there is tax due for MLPs held within a Roth IRA account.
What is MLP?
As we have introduced here before, MLPs typically transport, store, produce and refine energy and pass most of earnings back to shareholders. As a consequence, MLPs tend to have high yields and many investors hold MLPs within IRA or Roth IRAs for tax reasons.
MLP's Tax Trap
If an investor uses IRA funds to invest in MLP, because MLP is a partnership (not a stock, bond or fund), there is tax due on certain annual income from the partnership exceeding $1,000, thanks to an antiabuse provision from IRS. This levy is known as Unrelated Business Income Tax (UBIT).
Furthermore, when this tax is due, the IRA custodian or trustee is responsible for obtaining a special tax ID number and then filing and signing an IRS form 990-T reporting the income, while the IRA owner is responsible for paying the tax bill. So you could very likely receive a tax bill from IRS already signed on your behalf!
If you want to avoid the tax complexity, better avoid owning MLPs in your IRA accounts. Or you can invest in some ETF/ETN products that track the same space, such as AMJ or MLPI or MLPN or MLPY (all are ETNs), AMLP (an ETF).