Capital loss

What is the name of your state? NY

I have a Capital loss that i incurred in 2001, however, i didnt put in on my 2001 taxes. Could i still claim it in my 2004 tax return, if i never mentioned it in any of my taxes?

[Snipes5]

Amend your 2001 taxes and claim it there. If the amount will create more than $3000 of capital losses for that year, you can carry it forward to 2002, then 2003, and so forth, but you need to begin to claim it in the year it occurred, and properly carry it forward to each year until it's gone.

Snipes

How do i amend my taxes, do i call the irs or do i file a form, also i would basically have to amend my taxes from 2001 till now.

My capital loss did not go over 3000 will that cause a problem

[Snipes5]

If your capital loss is less than $3000 you only have to amend your 2001 taxes. At that point the loss will be used up, if it's less than $3000.

Use form 1040X. You will also need a copy of your 2001 return, so you know which figures to carry to the 1040X.

You can get a transcript of your return from an IRS office.

A 1040X is tricky, you may want to have this done by a professional.

Snipes

Thanks