You should amend the 2023 return as you can't take the additional loss deduction properly without first adding it to the 2023 return. Even though it is not immediately deductible, you may be able to deduct it in future years, but you must carry it over properly. You don't need to wait until you amend the 2023 return to file your 2024 return as long as you enter the correct loss carryover on it.
You should prepare the Arizona amended return to see if the tax changes but you don't need to submit it if there is no change in tax, as that return does not track loss carryovers.
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