carryback
Definition
A technique for receiving a refund of back taxes by applying a deduction or credit from a current year to a prior year. also called tax loss carryback.
Cite this definition
Related Terms
carryforward
'carryback
' appears in the definitions of these other terms on BusinessDictionary.com
loss carryforward, carryover
Related Research Articles from the InvestorGuide.com University
Filing Your TaxesDetails on when and how to file your tax return. Describes often used tax return terminology and processes, including electronic filing, estimated payments, withholding, and alternate minimum tax (AMT).
Taxes and Your InvestmentsLearn how taxes should affect your investment strategy. Understand how gains from stocks, mutual funds, bonds, lottery winnings, and other sources are taxed differently. Topics include short-term and long-term capital gains, the wash sale rule, investment interest, stock splits, and active trading.
Calculating Your TaxesDo you understand how your taxes are actually calculated? This article explains and gives examples of credits, deductions, and gifts. Also includes information on how family, marriage, children, and education can affect your taxes.
Featured Sponsor
|