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carryback

[ kar-ee-bak ]

noun

  1. (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 ).


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Word History and Origins

Origin of carryback1

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

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carry awaycarry coals to Newcastle