I have a section 'Regulated Futures Contracts & Section 1256 Options 2022' under my WeBull tax form that is showing all of my SPX trades. SPX falls under 1256, so I input box 11 from my WeBull tax form into TurboTax. Shortly after is when I was prompted to carry back my losses. So box 11 is what I can carry back to prior years?
I'm going to assume that I can only carry back 3k per year rather than the entire sum against my income. Is this correct? Thanks! Appreciate the help a lot.
Below is what the tax form is showing.
Aggregate Short-Term Profit or (Loss): 40% - ####.##
Aggregate Long-Term Profit or (Loss): 60% - ####.##
11 - Aggregate Profit or (Loss) on Contracts - ####.##
