Deductions & credits

Thanks for comments.    So if the original loss was $100k,  he should have carried forward $3k/year against ordinary income for years 2008 - 2014 (7 years).  Four of those years, 2008-2011 are too late to amend, so he loses $3k of losses for those years.  For years 2012-2014, he should amend those returns, claim the $3k carryforward against ordinary income.

So I am hoping he can use $79k ($100k - $21k discussed above) past unused losses against a gain in 2015 ?

Thanks so much !