Business & farm

there may be no carryforward. under mark-to-market, if not a passive activity, that loss would offset other income, but you night have a net operating loss. Use IRS form 172 to calculate it. It is not supported in Turbotax. if its passive the loss can only be used against other passive income but would be freed up if you dispose of the activity. For passive loss check the form 8582.

https://www.irs.gov/site-index-search?search=172&field_pup_historical_1=1&field_pup_historical=1