After you file

I think I misunderstood the first time. So 1256 gains in 2022 can be used to offset 1256 gains from prior years.

It cannot be used to reduce my income from prior years. Is this statement correct?

 

I did not have a 1256 for 2021. So any losses in 2022 will be carried forward.

 

Appreciate the help.

 

@fanfare