Definition of Carryforward

1. Noun. (accounting taxation) An income tax loss or credit not usable in the current year that can be applied to offset income or taxes paid, respectively, in subsequent tax years. ¹

¹ Source:

Definition of Carryforward

1. [n -S]

Lexicographical Neighbors of Carryforward

carry the can
carry the message to Garcia
carry through
carry to term
carry water for
carry weight
carryforward (current term)
carrying a torch for
carrying angle
carrying capacity
carrying charge
carrying cost
carrying into action
carrying out
carrying the message to Garcia
carrying violation

Literary usage of Carryforward

Below you will find example usage of this term as found in modern and/or classical literature:

1. Corporate Tax Incentives for Foreign Direct Investment by W. Steven Clark (2001)
"Illustration of alternative loss-carryforward rules 40 280 73 40 240 59 40 160 36 Year I Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 ..."

2. General Explanation of Tax Legislation Enacted in 1998: Report of the Joint edited by William Roth, Bill Archer (2000)
"Generally, the nonrefundable portion of the child credit and the other non- refundable personal credits which do not provide a carryforward are grouped ..."

3. Indian Self-Determination Act: Shortfalls in Indian Contract Support Costs by Chet Janik, Jeff Malcolm, Susan Iott (1999)
"Through that adjustment, referred to as the "carryforward" adjustment, any overpayment in indirect costs can be recovered. While the Eastern Region of ..."

4. Capital (1888)
"The taxpayer is entitled to carry forward his unabsorbed depreciation but according to decided case laws, the benefit of carryforward and set-off of ..."

5. International Tax Issues Relating to Globalization: Hearing Before the edited by William V. Roth, Jr. (1999)
"7002 reduced the carryback period for FTCs from 2 years to 1 year and, at the same time, extended the FTC carryforward period from five to seven years. ..."

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