The initial people who answered are forgetting that "personal exemptions" affect your 3K carry over. It may actually reduce it so whoever is telling this guy that his 2008-2011 tax returns don't come into play are wrong. They very much DO come into play and there in lies the problem. I would actually ask Hal because he is right. This becomes a huge problem and it IS very complicated. He did not keep a carry over record for at least 8 past tax filings. IRS will definitely see this as a problem. Like I said earlier, he can try it but I doubt it will go through.
