I need to provide information on NOL carryforward (if any) to my brokerage for my IRA so they can determine if they need to file a form 990-T for my account. Although I thought it was only negative UBTI from prior years that could offset positive UBTI for current year (and only for the same source/MLP), so I'm not really sure "NOL" is applicable, but that's what they asked for. This applies to K1 forms I get from MLPs (about a dozen of them).
I still am not sure exactly how NOL is calculated. Apparently a "passive activity loss" is the sum of boxes 1 (operating income), 8, 9a, and 10 but is this NOL? I don't think so but I'm not sure.
Does anyone know this for sure? Thanks!
