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Investors & landlords
Yes. You can go back and amend your return for the past years to claim the losses. However, you would need to amend each year after to claim the loss. So if you amended your 2020 return and had a loss, you would need to amend your 2021, 2022 to continue to carry it forward. It has to be used up in consecutive years. Since the filing deadline for a refund is closed for 2021, it wouldn't have any affect there but you would still have to use it up.
In other words, if you had a $30,000 loss in 2020 that you carried forward, then you had no gains in 2021 you would use the $3,000 on the 2021 amended return but you would NOT RECEIVE the refund. However, you would be able to claim a refund for 2022 and 2023 at this point because the 3 year window for refunds has not passed for those years.
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