Business & farm

no 1256 gains in 2020 then the carryback is to 2021.  I would do the c/b from 2022 first. you'll probably get your 2021 refund sooner than if you wait to do both 2022 and 2023 c/b to 2021.  c/b can take up to 6 months to process. The downside is that you'll have to amend 2021 twice.