@Mike9241 Thanks a ton for the detailed response. I'm curious about the part where you've mentioned:
...
the actual amount you can carryback is the smallest of 1) the net gain from 1256 contracts for the carryback year
2) the net gain on line 16 of schedule D before any carryback.
I can still do a carry-back to multiple tax years, not just a single one, correct?
I wonder why more folks don't do Sec 1256 trading? So many benefits especially from a Tax standpoint
Thanks again!
