carry back

1. 1.

   deduct a loss or an unused credit from taxable income for a prior period

   Broadersubtract

Questions about carry back

What does carry back mean?

carry back means "deduct a loss or an unused credit from taxable income for a prior period".

Is carry back a common word?

carry back is banded "Rare" — specialist or archaic — most readers will not have met it. The band comes from how often the word appears in a large corpus of everyday English, not from an editor's impression.