Filing Taxes for past years for Foreign earners?
I was confused about filing and thought since I didn't earn the $72k+ untaxed amount and thought I didn't have to.
My 2004 tax return didn't include the correct stocks loss for that year and kept the amount from 2003 and didn't add the losses on schedule D from the year 2004 to tax filing on 2004 return.
1st q: Can I amend that mistake since I will be carrying the loss forward from 2004 to 2005, 2006 , 2007 and so forth
2nd q: My earning didn't reach the full untaxed amount for foreign earners, would I still deduct 3000 from my stock losses. Meaning if I had $100,00 losses, will I be deducting the 3000 against my earned income even I am not paying taxes agents it.
3rd is there any penalty for not filing for past years even I don't any money
Thanks for answering