carryback
[ kar-ee-bak ]
/ ˈkær iˌbæk /
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
carry-in, carry-on, carry-out, carry-over, carryall, carryback, carrycot, carryforward, carrying capacity, carrying charge, 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