But I think EVERYBODY is forgetting that he failed to claim the 3K losses for each year subsequent to 2007. Since IRS rules force you to claim your maximum capital losses EACH YEAR in order to carry it forward how can he carry ANYTHING forward legally since he failed to report the losses in 2008, 2009, 2010, and 2011 ??? Yes he can amend his 2012-2014 tax returns but he already failed to claim the 3K in 2008-2011. This will actually PRECLUDE him from amending his return to reflect losses since the 2008 thru 2011 returns cannot reflect his losses OR his possible GAINS. The possible GAINS pose a problem to his losses. This is why the IRS rules FORCE you to use your losses EACH year. You cannot skip a year, and in his case SEVERAL years and then decide later that you need to use them. You can try to file and maybe not get caught but it is ILLEGAL. If you skip a year and do not claim your losses one year then you are not eligible to suddenly pop up almost 10 years later and go OH YEAH I had losses 10 years ago. I love turbo tax but they are not giving correct info on this one.
