carryback

noun car·ry·back \ ˈka-rē-ˌbak , ˈker-ē- \

Definition of carryback

: a loss sustained or a portion of a credit not used in a given period that may be deducted from taxable income of a prior period

First Known Use of carryback

1942


Law Dictionary

carryback

noun car·ry·back \ ˈkar-ē-ˌbak \

legal Definition of carryback

: the portion of an income tax deduction (as for a net operating loss) or credit which cannot be taken entirely in a given period and which may be deducted from taxable income of a prior period — compare carryover

Learn More about carryback


Seen and Heard

What made you want to look up carryback? Please tell us where you read or heard it (including the quote, if possible).

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!

WORD OF THE DAY

the significant part of a grievance

Get Word of the Day daily email!

Test Your Vocabulary

Star Wars Words Quiz

  • cu-jedi-training
  • The bounty portion of bounty hunters (such as Boba Fett) comes from a Latin word meaning
Spell It

Can you spell these 10 commonly misspelled words?

TAKE THE QUIZ
SCRABBLE® Sprint

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!