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Richard Jones 17Richard Jones 17 

or: Incorrect number of parameters for function 'if()'. Expected 3, received 1

Why would i be geting this message from :  
IF(opp__c>0,"RE",if((( LastActivityDate ) - (DATE(2013,12,19)))<365)&&(of_Lost_Opps__c >0),"Lead",IF(Last_Activity_Date__c ="","CA"))
 
James LoghryJames Loghry
You have three if statements.  They each take 3 arguments.  You just need to make sure the arguments are covered in your formula and that the parenthesis all match up.

I took a stab at your formula and came up with the following.  Note, that I added "SOME_DEFAULT_VALUE" as I'm not sure what the default should be in that case.  
IF(
    opp__c>0,
   "RE",
    IF(
        (LastActivityDate - DATE(2013,12,19)) < 365 && of_Lost_Opps__c > 0,
        "Lead",
        IF(
            ISBLANK(Last_Activity_Date__c),
            "CA"
            "SOME_DEFAULT_VALUE"
        )
    )
)

 
James LoghryJames Loghry
should be a comma after "CA"...