@Mike9241 so you can only carry back section 1256 losses to years when you did section 1256 trading? i.e. if I had $2,100 remaining in 1256 losses in 2022, a 1256 gain of $1,000 in 2021 and no 1256 trading in 2020, then I can only carry back $1,000 to my 2021 return and the remaining $1,100 would go towards 2023? I only started trading those contracts in 2021.
