(in U.S. income-tax law) a special provision allowing part of a net loss or of an unused credit in a given year to be apportioned over one or two subsequent years, chiefly in order to ease the tax burden.
- Compare carry·back.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use carryforward in a sentence
Kennan wrote, “I feel that I was in some strange way to carry forward [his] work.”
“Both were originally viewed by Washington as the indispensable men to carry forward American policy,” Greenway said.
But I also know that sanctions without outreach—condemnation without discussion—can carry forward only a crippling status quo.
The force of such idealization helped to carry forward the human race to a new milestone on the path of progress.The Unsolved Riddle of Social Justice | Stephen Leacock
This hazardous expedition was intrusted to Generals Sherman and Porter, to carry forward.The Blue and The Gray | A. R. White
I do not conceive and carry forward a plan in the one breath.The Wolf Cub | Patrick Casey
To carry forward a work of such magnitude to anything like completion must therefore be rather wished for than expected.
Clumsily they carry forward the torch of the sun, until such time as the nation sees fit to take it up.Howards End | E. M. Forster
British Dictionary definitions for carry forward
accounting to transfer (a balance) to the next page, column, etc
Also called (in Britain and certain other countries): carry over tax accounting to apply (a legally permitted credit, esp an operating loss) to the taxable income of following years to ease the overall tax burden
Also called: carry-over tax accounting an amount carried forward
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Other Idioms and Phrases with carryforward
Also, carry over. Transfer a bookkeeping entry to the next column, page, another account, or the next accounting period, as in Let's carry forward this loss to the next quarter for a saving in taxes, or She made an error in carrying over this column. The first term dates from the first half of the 1800s; the variant dates from the mid-1700s.
The American Heritage® Idioms Dictionary Copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.