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carryforward

[ kar-ee-fawr-werd ]
/ ˈkær iˈfɔr wərd /
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noun
(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.
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Compare carry·back.

Origin of carryforward

First recorded in 1895–1900; noun use of verb phrase carry forward
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2022

How to use carryforward in a sentence

British Dictionary definitions for carryforward

carry forward

verb (tr, adverb)
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
noun carry-forward
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

carry forward

1

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.

2

Make progress in, advance, as in His successor hoped to carry forward his work. Also see carry on.

The American Heritage® Idioms Dictionary Copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.
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