It seems in the past that when I've had an NOL, the full amount doesn't carryover to the next year after taking it through the IRS's complicated NOL carryover worksheet calculations which always seem to nip a good chunk of it away. And also NOLs are removed for AMT purposes so I lose benefit there too. Meanwhile, passive activity loss carryovers last forever and don't decay each year like NOLs seem to do and don't seem to be affected by AMT. I know there are a lot of nuances to give an exact answer to this question, but do I have the general idea right?
