Carryover Losses - Skipped a few years, possible to amend?

[qNu4H]

There were a few years where I did not file taxes because my income was under the limit. What I did not realize is that once you skip a year, your ability to carryover losses is forfeited. 

Is it possible to go back and file those taxes and re-obtain the ability to carryover losses in the current tax year, and subsequent years? 

[ASlee]

Not sure what a "few" years is and what years they were but I would suggest filing amended returns for your missed years and pick up the carryovers if applicable.

[VolvoGirl]

Where did you see it is forfeited?  

You have to report the carryover every year until it's used up.  You can't skip a year.  Even if you don't report it on your return you have to reduce it by the 3,000 (1,500 MFS) when you carry it over to next year.  You can't choose when to use it.

This is from the IRS Pub 550 page 66 last column....

"When you figure the amount of any capital loss carryover to the next year, you must take the current year's allowable deduction into account, whether or not you claimed it and whether or not you filed a return for the current year. "

Here is pub 550…  http://www.irs.gov/pub/irs-pdf/p550.pdf

You might want to amend the last 3 years to include it.  But If you have a negative AGI or negative taxable income it will show up on 1040  BUT it won't reduce the carryover to the next year.  So if you didn't have any taxable income you can carryover the full amount.

[qNu4H]

edited: SOLVED

@VolvoGirl Re-read your reply multiple times and also found this similar thread: https://ttlc.intuit.com/community/after-you-file/discussion/i-inadvertently-skipped-a-year-of-capita...

Takeaway is that there is no forfeiture from having missed year(s). A loss can continue to carryover this year. It is simply that the amount available to carryover will have to be calculated as though losses had been carried over uninterrupted. And it is up to me if I want to amend past returns to reap the benefits. 

My excuses, I'm really easily confused with this tax stuff. Much clearer now thanks to you pointing me in the right direction. Thank you.