4 year limit on deducting trading losses..?

[Xenomorph]

In 2010 a buddy of mine lost some money trading that he did not realize he could claim as a loss. I believe that after 4 years you can no longer 'carry over' losses into the following year. In this case the cutoff was April, 2014 I think.

But does the 4 year cutoff also apply to losses that you are not trying to carryover but simply claim on an amended 2010 return? Is he not able to claim those losses now?

Thanks for any help.

 

[Scaleout.Scalper]

Most of the losses stories in this forum start with a ".... of mine"

 

[Xenomorph]

Thanks for the useless comment. For the record, I have had plenty of my own losses. Most traders don't make money.

 

[Scaleout.Scalper]

Thanks for the useless comment. For the record, I have had plenty of my own losses. Most traders don't make money.

Well its a stat you probably didnt know.

Friend of mine just decided to post on ET