To determine if you've earned UBTI, review the following details on your Form K-1:
UBTI from operating results of the MLP or LP (typically reported on line 20-V of Form K-1).
Ordinary gains (MLPs only) generated from the liquidation of the partnership interest are 100% reportable as UBTI on Form 990-T.
Unrelated debt financed income (UDFI). UDFI is the portion of the gains associated with a sale/liquidation of a partner's interest in a partnership or proceeds from a taxable corporate action that is attributable to the acquisition indebtedness, commonly referred to as debt-ratio (this information is obtained directly from the partnership).
Income from cancellation of debt.