Carryback

From CNM Wiki
(Redirected from Tax loss carryback)
Jump to: navigation, search

Carryback (alternatively known as tax loss carryback) is an action to carry tax loss back.


Definitions

According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),

Tax loss carryback and tax loss carryforward. Ordinary corporate operating losses can be carried backward for 2 years or forward for 20 years to offset taxable income in a given year.

According to Fundamentals of Financial Management by Eugene F. Brigham and Joel F. Houston (15th edition),

Carryback. Ordinary corporate operating losses can be carried backward for 2 years and carried forward for 20 years to offset taxable income in a given year.

Related concepts

Related lectures