PTPs (Publicly Traded Partnerships): What They Are and How They're Taxed
Warren Team
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Key terms
- PartnershipA business structure in which two or more individuals share ownership, responsibilities, profits, and liabilities of a business. Partnerships come in several forms, including general partnerships where all partners share liability equally, and limited partnerships where some partners have limited liability and a more passive role. Partnership income passes through to the partners' individual tax returns, avoiding corporate-level taxation.
- ETF (Exchange-Traded Fund)An investment fund that trades on stock exchanges, holding assets like stocks, commodities, or bonds. ETFs offer diversification and typically have lower fees than mutual funds.
- Exchange-Traded Note (ETN)An unsecured debt security that tracks an index, commodity, or strategy. Similar to ETFs but structured as debt, not equity. Subject to issuer credit risk.
- Room and BoardThe combined cost of housing and meal plans at a college or university, which is a significant portion of the overall cost of attendance. Room and board costs vary depending on whether you live on campus, off campus, or at home, and the type of meal plan you select. Many colleges require first-year students to live on campus and purchase a meal plan.
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