I need help with my section 1256 contracts losses this year 2024, I have in excess of $80,000 losses will be shown on form 6781. As per IRS rule I can carryback some of this amount to 3 previous years like 2021, 2022 & 2023. I am trying to calculate how much I can carry back to these previous years, need your help in exactly calculating this number.
Here is the info from tax form from previous years:
2021: $5593 gains are reported on line 16 of Schedule-D. There was no gains/losses reported on form 6781 for section 1256 contracts.
2022: -$2249 losses are reported on line 16 of Schedule-D. There was no gains/losses reported on form 6781 for section 1256 contracts.
2023: $3056 gains are reported on line 16 of Schedule-D. There was $7574 gains reported on form 6781 for section 1256 contracts.
Can someone calculate and tell me how much I can carry back, I am confused with year 2021? I am sure I can not carryback any amount to 2022 and I can carryback $3056 for year 2023.