@tdog66 - Nothing prevents him from amending his 2008 through 2011 returns, but he doesn't have to and there is no benefit in doing so. There is a statute of limitations for tax returns. Once the statute of limitations has run out, the return is considered "closed." That means you can no longer get a refund for that year, and the IRS can no longer audit the return (except in the case of a major understatement of income or outright fraud). But you can amend returns as far back as you care to. You just can't get refunds anymore.
Without actually filing amended returns, he can still recalculate his taxes for those years in order to come up with the correct capital loss carryover for 2012 and later. That is what we are saying that he should do, and it is perfectly legal. His failure to use the carryover in 2008 - 2011 does not "preclude him from amending his returns" for the years that are still open. In fact, he is actually required to amend his returns for 2012 through 2014 because the returns he filed for those years are incorrect, and those years are still open. We are not forgetting that he didn't use the carryover in 2008 through 2011. Recalculating his taxes for those years, even though he does not file amended returns, is the correction for having improperly skipped several years, and allows him to file correct returns for the years that are still open.
