carryforward

[kar-ee-fawr-werd]

noun

1. carry-over.

2. (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.

Word History and Origins

Origin of carryforward¹

First recorded in 1895–1900; noun use of verb phrase carry forward

Example Sentences

Yet another is to use “carryforward” funds.

Read more on Seattle Times

In total for that tax year, combined with nearly $9 million in carryforward loss from previous years, Mr. Trump’s qualified losses amounted to more than $58 million for the final year of his term in office.

Read more on Washington Times

This creates a greater need for loss carryforward and carryback rules, which allow firms with unsteady profits to offset income from profitable years against the losses of unprofitable years.

Read more on Slate

Mr Buffett said he had never taken advantage of the carryforward rule, in a statement on Monday.

Read more on BBC

Mr Trump was asked during the debate by moderator Anderson Cooper if he had taken advantage of the "carryforward" rule, which allows businesspeople to offset a big loss incurred one year against income made in subsequent years for tax purposes.

Read more on BBC