Amended Tax 2023 and 2024 Capital Loss Carryforward

[tparsons]

After I filed my 2023 Form 1040 in February 2024, I received a corrected Form 1099-B in April 2025 (yes, 2025), so I need to amend my 2023 return. This will change the Capital Loss Carryforward values for 2023 to 2024.  I filed my 2024 Form 1040 in April 2025, including the corrected Form 1099-B but with the Loss Carryforward for the original 2023 Form 1040.

I've prepared my 2023 1040-X reflecting the corrected Capital Gains and Loss values and a corrected Carryforward Worksheet 2023 to 2024 and am ready to submit. There is no difference in the tax to pay or refund for 2023.

As I have already submitted my 2024 1040 in April 2025 with the correct Capital Gains and Losses in Schedule D, the Capital Loss Carryover 2023 to 2024 amounts are now incorrect. Do I submit an amended 2024 return incorporating the amended Loss Carryforward 2023 to 2024 which will also affect the Loss Carryforward 2024 to 2025 so that there is a correct record of the Losses? It appears that there is no difference in the tax due or refund amounts for 2024.

[Bsch4477 · Accepted solution]

Amending your 2024 return would ensure a correct carry over going forward. 

[tparsons]

That answers my question perfectly. Thanks so much!