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Tammy F.
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I cant remember if I filed a return for a past year.

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I can't remember if I filed a return for a past year. How do I figure this out? I do my own taxes.

You can just give the IRS a call and ask. You may want to wait until after the 17th, the last day to file. The number to call is(NNN) NNN-NNNN

Unless you owe money, there will not be a penalty even if you did forget to file.

Let me know if you need more help.

Customer: replied 11 years ago.
Reply to Tammy Falkner's Post: I knew all of that, but I need to know now. Okay, here's the story:

In Wisconsin, the deadline to file if you ARE OWED money and not lose that money is 4 years from the deadline everyone usually follows. I am aware that for federal, it's three years, not four.

2000 was a bad year. I was given money to invest and I day-traded. I lost about $5000. But, I did my trades in a haphazard fashion. I would buy 7 shares, then 22 a week later, then sell 13 a week after that, etc. Schedule D was a nightmare once I learned the extent of the calculations for wash sales, etc.

I just didn't do my taxes. I KNEW I wouldn't owe, so I was not concerned about penalties. Last year, I filed Wisconsin taxes for 2000, since that was the deadline. I had filed Federal 2000 in April of 2004, and it WAS a nightmare to complete the return, specificially Schedule D.

Oh, I knew I wouldn't owe because I only made about $6000 in 2000. This is not including the stock losses. Then I went through a period of a few years (2001 through 2003) where I didn't really work at all.

However, I cannot find copies of my federal 2001 return. I filed Federal 2000 in April of 2004, just in time to beat the three-year deadline.

Anyway, I am not worried about losing refunds, since I wasn't working. I am concerned about the capital losses I have; I want to roll them over.

I just can't believe I didn't file federal 2001 by the 3-year deadline (April of 2005, last year).

Advise? I guess my question is if the three-year deadline to file to claim any refund also applies to rolling over capital losses. In other words, do I have to file in a timely (3 year rule) manner to be able to roll over from the past, or can I do it whenever?

If it's been more than 3 years for federal, you have forfeited your right to any refund that was due to you. Sorry!

If you can't find your 2001 return, you can request a copy.

You can use the following form to get a copy of your prior year's tax returns. The fee is $39.00.

If you just want the numbers off the form, you can file form 4506T and it's free.

If you have a local IRS office, you can take the form in and get a copy in person instead of having to wait. Be sure and take your social sec card and your driver's license when you go.

Please let me know if you need more help.

Customer: replied 11 years ago.
Reply to Tammy Falkner's Post: Sorry maybe I wrote too much for you to read thoroughly.

I KNOW ABOUT THE 3-YEAR RULE! I am NOT worried about losing a refund -- I was not entitled to one.

HOWEVER, I did file Federal 2000 and had losses I thought I could carry over in excess of $3000.

Do I lose my right to roll over if I wait longer than three years to file from the year that I incurred the capital loss?

I asked the original question because I can't find my 2001 federal return. (Maybe I didn't file!)

Yes, I KNOW that it is too late to get any refund due me for 2001 federal. AGAIN: I would not have received a refund if I filed on time! I owed nothing and was owed nothing.

This is just about rolling over capital losses from over three years ago!

No. You still have the right to roll over from 2000 to 01 if you ever had that right. It does not vanish with time.

Does that help more?

Customer: replied 11 years ago.
Reply to Tammy Falkner's Post: So, I just file Federal 2001, even if it's April 2006, and as long as I don't expect a refund, it will be fine? Then it's on to 2002, etc., of course, which will be very easy since I got out of stocks.

by the way, you are gettin' PAID! I just have never used this before and didn't want to click ACCEPT for fear that I could not also continue a dialogue.

Are you interested in $10 more for what will probably be an easy question for you, one related to all of this? How do I do it? I want to continue with you, not another expert! :)

If you are late with your return and you OWE, you will probably pay a penalty.

Sure - ask away! I'll answer if I can. If not, I'll refer you to another expert.

Customer: replied 11 years ago.
Reply to Tammy Falkner's Post: Yeah, I know about the penalty if late and one owes. Not a worry.

Okay, you can maybe save me a lot of time. Maybe I won't file at all for 2001, 2002, 2003 (I got a real job for 2004-?) depending on your answer.

I noticed with disgust that on my Federal 2000, the year that I made a whopping $6300 in wages (not stock gains, I lost in stocks, remember), I was FORCED to offset this measly wage by $3000 of my capital losses! Even though I would have owed no tax on $6300, they made me take the deduction (at least I THINK the form made me...) so that my taxable income was $3300 instead of $6300. Of course, I still owed nothing, but I was forced to waste $3000 in losses that I really wanted to roll over year after year until I got a real job in 2004.

However, if they are going to play that game on the 2001, 2002, etc. forms, then I might as well not even file.


USA TODAY TAX EXPERT answered a similar question as follows (note they refer to being required to offset earned income with losses if losses exist, even if rolled over, but in my case, there was no earned income in ensuing I still forced to apply losses to income of 0 much like I was forced to apply losses to income of $6300?! If so, forget it, I ain't filing! Of course I will then file for the years I was employed, 2004-present.)

USA TODAY Question:
My son and daughter have multiple years of capital losses (Max $3,000 yearly limit) from mutual funds. Are we required to offset earned income during the ensuing years? Or is there any possibility on just offsetting capital gains in future years that I could select, since my children do not have any capital gains this year. IRS publication 550 does not address this situation clearly but I am guessing we must use the loss each year until it runs out . Is that correct?

Dale Walters: Yes, the $3,000 deduction does offset other income on your tax return, including wages. There is no flexibility in this.

To my knowledge, you have to use in for the following years provided that there is income that can be offset.

If there's no income to be offset, the situation changes.

I am afraid that I might not be the right person to ask about this, though. If you want to accept and close this question (since I answered the first part) and then post it again, another expert can tell you more.

We have a great CPA who would be perfect for this question.

Tammy F. and other Tax Specialists are ready to help you