1256 Futures contracts carry back.....or not?

[Massimo59]

Last tax year (2023) and this tax year (2024) I have been day-trading futures contracts. Last year I made about $5,000, while this year I lost about $6,000. TTX says that I can (must?) carry back what I lost from 2024 to (in my case) 2023. I have several questions:

(1) Can I  (must I) carry back to 2023 $5,000, and therefore amend that tax return with form 1045?

(2) Since I would like to avoid the process of amending my 2023 tax return, could I just enter as carry back a small amount ($0.01). I am asking because  TTX seems to require entering a carry back amount larger than 0.

(3) If I just need to submit an amended 2023 return, do I need to install again my desktop TTX 2023 version? Would that work? And what about amending my 2023 State taxes? Would TTX also handle them?

Thank you for the help!

[fanfare]

You do not have to do any carryback That is totally your choice.

Since the carry backs is a complicated process, that involves amending two prior returns, you should not do it unless it is strongly to your advantage

@Massimo59 

[Massimo59]

Thank for your comment. It is as you suggested and what I have done!

Cheers.