I noticed I forgot to carry forward my capital losses since 2016. I know I should have paid attention. Can I forward my usual maximum amount of $3000.00 to 2020 tax return without going through amendment process? I don't want to through the headache of amending 5 years of taxes.
Thanks for all your help.
if you are audited and your carryover amounts this year do not match last year's Schedule D, your deduction will probably be denied.
Is it possible to amend my Tax returns since 2016 to correct for the missed capital losses carry forward? Or there is a process that limits it?
Yes, you should amend each year to have the correct entry on your 2020 return.
your issue is determining how much of that 2016 capital loss remains, if any, for use in 2020.