- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
The original return for 2022 had $15,000 gains for 1256 contracts. Then it had a $5,000 loss carryback from 2023. The final number is $10,000 in the amended return, the one I sent in. The software displays a refund of $240 for federal and $290 for NJ. If NJ disallows carryback, then the refund for NJ should be $0.
The numbers I used are just samples. This scenario could be easily replicated using any numbers.
Thank you!
March 23, 2024
9:23 AM