Ryan Ridnour wrote:

- quote -

First off, you go back and "amend", or change, your year
2002 tax return to include the schedule d. then youcarry
over the other 7000 and again amend year 2003 return if you
have filed it already.

ChEAr$,
Harlan Lunsford, EA n LA

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I was 20% owner of a Subchapter S corp. We ceased
operations in 2001, liquidating our assets. The company's
final tax return was for tax year 2001. After it was all
said and done, my partners stuck me with a loss, which was
about $10,000. I paid the debt with a home equity loan
taken out in 2002. After consulting with an accountant, he
said I can use the $3000 yearly max capital loss every year
until I have used up all of the loss. He also said that
goes on Schedule D.

Exactly how do I put that on Schedule D? I didn't really
purchase and sell anything as an individual. Do I need any
other IRS Forms with that, or does it just go on Schedule D?

Thanks,

Ryan

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