Master limited partnerships (MLPs) offer investors big-time yields. Popular MLPs Enterprise Products Partners (NYSE: EPD) and Energy Transfer (NYSE: ET) currently yield 6.7% and 7.4%, respectively. That's several times higher than the S&P 500, which has a 1.1% dividend yield. MLPs offer investors several other advantages beyond passive income, but they have a major drawback for many investors. These entities send their investors a Schedule K-1 Federal tax form each year instead of a Form 1099-DIV. These fo ...