I haven't claimed stock losses for 3 years because I didn't know I had to. How can I fix this? I already filed this year without reporting losses!

posted

you don't have to claim net stock losses but then you'll never get any tax benefit from them. net capital losses are deductible at the rate of $3,000 per year. if you have taxable income for those years, you'll get a refund by filing an amended return for each year. any excess losses are carried forward to the following year.

2019 should not be amended until the original filing has been processed.