Yes, you are correct in your understanding. You are at-risk for the entire investment and would have no carryover amounts for that category. You do not need to wait for weeks in between. The 2024 return should be filed correctly with the right numbers and you can immediately amend the 2023 when you want.
As indicated by our expert @KeshaH you are at-risk for your entire investment.
- Section 465 (d) carryover refers to the at-risk rules of Section 465 of the Internal Revenue Code. Your losses are limited to the amount you have "at risk" in the activity. A loss that was disallowed because of the at-risk rules is generally treated as a deduction from the same activity in the following tax year (a carryover).
@VolvicNaturelle
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