Thanks. Let me be perfectly clear: for section 1256 contract loss, it not only can be carried forward to future year (just like regular capital loss), but also can be carried back three years (if there is section 1256 gain in those three years, just amend that year's return which has section 1256 contract gain, ignore the years which do not have 1256 gain). Is it correct statement?
Another question: If I have section 1256 loss this year and if I have section 1256 gain in last 3 years. If I don't amend the prior returns, can I just carry all section 1256 loss to future years (offset future capital gain)?
Thanks.
