What I expected to happen was...:
I expected a return portal to appear, which would teleport me back to my home portal.
What actually happened was...:
I created a portal to the nether, stepped through, and found myself in the Basalt Delta. Excited, I decided to look around the area that I appeared in, and immediately noticed that the portal was not there. I immediately hit Esc. and hit the button 'Report Bugs'. I first browsed through already reported bugs (open and resolved) and finding none that matched my bug, I began to create this report. This bug only occurred when I appeared in the Basalt Delta in 1.16.1. I had been to the nether in 1.16 in a previous world, and I encountered no problems. It's possible that this bug is tied to the Basalt Delta biome in the Nether.
Steps to Reproduce:
Since this occurred when I appeared in the Basalt Delta in the Nether, it is quite hard to reproduce. If need be, I can provide my world seed and portal coordinates to make it easier to reproduce.
1. Create a portal to the nether and hope you appear in the Basalt Delta.
2. Turn around to look at your portal.
3. If it's not there, you have successfully reproduced this bug.
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The images I have posted here show the area that the portal was suppose to be.
Also, if no one can reproduce this bug, please inform me. Perhaps this will be motivation enough to convince my parents to buy me a new computer. One that isn't an absolute piece of crap.

Was unable to reproduce this myself. Close this at your earliest convenience. What probably happened was, when I first created the world and got enough obsidian to make a Nether Portal and went to the Nether, my computer was starting to overheat, and as a result, it initiated an auto shut down to prevent itself from overheating completely. Minecraft had just completed rendering the terrain when the auto shut down occurred. Perhaps, a possible way to reproduce this is to create a Nether Portal and go to the Nether, and after appearing there, while you are still in the portal, shut down your computer, leave it for a while, then reboot your computer, play minecraft, and if you appear in the overworld without a nether portal, create it again and maybe, just MAYBE, you might successfully reproduce this bug. If you are still unable to, please close this at your earliest convenience. These "bugs" that I report that aren't really bugs (they either turn out to be an issue on my end or a duplicate of another bug), the constant overheating, battery charging issues, MASSIVE LAG SPIKES, and the fact that I am running on a no longer supported version of Windows, might just be enough to convince my parents to buy me a new computer.

In which version was the world first created? If it was a version before 1.16, did you manually delete the nether before the update?

This world was created in 1.16.1. Upon entering the nether I ended up in the basalt deltas. The portal home (which I call the return portal) was not there. I looked in all directions for about 100 or so blocks and could not find the portal. So, as a result, I used the give command to give myself enough obsidian for a portal and flint and steel so that I could make a return portal myself.
Also, what do you mean by "manually delete the nether"? I can't manually delete the nether. If you are referring to the portal, no I did not manually delete it. As I explained in a previous comment, the issue occurred when my computer shut down while I was still in the nether portal, while the nether was still generating. The issue could be if a player enters the nether and their computer shuts down unexpectedly and their still in the portal, the portal on both sides is destroyed, as the computer would return to its last auto save in the world (probably before the portal was created, as it was in my case). Upon creating the portal a second time and entering the nether, the return portal was not in the nether. As I have stated myself, it is entirely possible that this issue is on my end, not the games end. If no one can reproduce this, then this issue can be closed.

Apologies for confusing you - there is a way to manually reset the nether by tinkering with the save files directly, which is not supported, but many people did it and now are facing that exact problem. In your case, it's a side-effect of MC-63 - sudden crashes are at the moment known to cause issues like this.

Actually, I'm not 100% sure if this was on the games end so much as on my end. My computer has a serious overheating issue, and as such, it initiates an auto shut down to save itself. Now, what could have happened is the nether was reset, but by the computer when it reloaded itself. Anyway, I'm glad to know that other people are experiencing crashes similar to this when they alter the save files, and it's not just me.