carryover

carryover
car·ry·over /'kar-ē-ˌō-vər/ n: the portion of a 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 later period compare carryback

Merriam-Webster’s Dictionary of Law. . 1996.

carryover
n.
A deduction or credit from one year to the tax liability of a future year.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


carryover
A method by which deductions and credits for one tax year that could not be used to reduce tax liability in that year are applied against tax liability in subsequent years. (See also: carryback)
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
Category: Business Cash Flow Problems & Bankruptcy
Category: Business, LLCs & Corporations → Business Tax & Deductions
Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.
Category: Personal Finance & Retirement → Money & Taxes for Retirees
Category: Personal Finance & Retirement → Taxes → Tax Audits

Nolo’s Plain-English Law Dictionary. . 2009.


carryover
n. The part of an income tax credit or deduction that cannot be entirely claimed in a given tax year, but that a person may apply against (and thereby reduce) their tax liability for a subsequent year.
See also carryback.

Webster's New World Law Dictionary. . 2000.

carryover
n.
   in taxation accounting, using a tax year's deductions, business losses or credits to apply to the following year's tax return to reduce the tax liability.
   See also: carryback

Law dictionary. . 2013.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • carryover — Grain and oilseed commodities not consumed during the marketing year and remaining in storage at year s end. These stocks are carried over into the next marketing year and added to the stocks produced during that crop year. Chicago Board of Trade …   Financial and business terms

  • carryover — car|ry|o|ver [ keri,ouvər ] noun singular 1. ) something that is the result of a situation that existed in the past: Getting up early is a carryover from the time when I was in the army. 2. ) an amount of something, especially money, that has not …   Usage of the words and phrases in modern English

  • carryover — car·ry·o·ver (kărʹē ō vər) n. 1. Something transferred or extended from an earlier time or another place: a showing of new fashions as well as carryovers from last spring; a carryover of good will from the previous meeting. 2. Accounting. A sum… …   Universalium

  • Carryover basis — occurs when a property transfer also results in a transfer of the transferor s basis in the property. The transferor s basis in the property carries over to the transferee. Tax law of United States of AmericaCarryover basis, also referred to as a …   Wikipedia

  • carryover basis — see basis 3 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. carryover basis …   Law dictionary

  • Carryover Basis — A method for determining the tax basis of an asset when it is transferred from one individual to another. Carryover basis is often used when property is given as a gift to someone else and is the method for determining the basis for future tax… …   Investment dictionary

  • Carryover-Effekt — 1. Begriff: Intertemporale Wirkungsübertragung beim Einsatz absatzpolitischer bzw. marketingpolitischer Instrumente, bes. von Werbewirkungen: Ein Teil der Werbewirkung wird nicht im Zeitraum des Instrumenteinsatzes, sondern erst in den… …   Lexikon der Economics

  • carryover — noun Date: 1894 1. the act or process of carrying over 2. something retained or carried over …   New Collegiate Dictionary

  • carryover — noun a) Something whose duration has been extended or that has been transferred to another time b) An amount, especially a sum of money, transferred to a new column in a ledger, or applied to a later time …   Wiktionary

  • carryover — (Roget s IV) n. Syn. holdover, vestige, remains; see remainder …   English dictionary for students

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”