Meaning Of The Word Carry back

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Carry back Meaning

Carry back Definition
Carry back Definition

What's The Definition Of Carry back?

carry back in British English
to apply (an unused credit or operating loss) to the net income of a prior period in order to reduce the tax for that period
noun: an amount carried back
verb: If you carry back a loss or credit, you apply it to a previous tax year.
verb: 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

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