I lost a business in 2020. My accountant prepared my 2020 taxes and it included this page
Tax Return Carryovers to 2021
The form states:
4797 2020 SEC 1231 LOSSES SUBJECT TO RECAPTURE RULES AMOUNT 490
4797AMT 2020 SEC 1231 LOSSES SUBJECT TO RECAPTURE RULES AMOUNT 367
8995 TOTAL QUALIFIED BUSINESS LOSS AMOUNT 45,817
CAN I APPLY THIS TO MY 2021 TAX RETURN (IN AN AMENDMENT), AND HOW DO I KNOW HOW MUCH TO APPLY YEARLY