carryback

[kar-ee-bak]

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 preceding years, chiefly in order to ease the tax burden.Compare carry·forward(def 2).

Nearby words

  1. carry-in,
  2. carry-on,
  3. carry-out,
  4. carry-over,
  5. carryall,
  6. carrycot,
  7. carryforward,
  8. carrying capacity,
  9. carrying charge,
  10. carrying place

Origin of carryback

First recorded in 1940–45; noun use of verb phrase carry back

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019