@DianeW777 , @DawnC , @john9yao - Thanks for your questions / guidance so far.
Could you please provide some pointers here:
Background:
I just filed my 2022 Taxes. Net Section 1256 losses of $5k. I did indicate on Form 6781 on 2022 returns that I will carry back $5k losses to 2021.
Also - 2021 was the first year for me with Section 1256 trades. (nothing in 2019 or 2020). Additionally 2021 Section 1256 was profitable (in excess of $10k). No other cap gains / losses.
So now, I'm trying to re-cap steps I need to take for the carry back :
1. File form 1045 (do it do this for 2021 or 2022)?
2. Amend returns for 2021, which should create 1040X for 2021. Here I'm confused about how this works:
- Is there a specific place I put in, on the 2021 Form 6781, that I'm bringing -$5k from 2022?
OR
- Do I just go about entering the totals (NET) inclusive of the 5k loss in the 2021 Form 6781, box 1C?
OR
- Is there something else I need to do?
Lastly, do I have to do both (1) and (2) above? Or do I need to do only one of those 2 steps?
TIA!
-G
