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carryback

[kar-ee-bak] /ˈkær iˌbæk/
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).
Origin
1940-1945
1940-45; noun use of verb phrase carry back
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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British Dictionary definitions for carry-back

carry back

verb
1.
(transitive, adverb) to apply (a legally permitted credit, esp an operating loss) to the taxable income of previous years in order to ease the overall tax burden
noun
2.
an amount carried back
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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10
10
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