Difference between revisions of "Carryback"
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Revision as of 13:52, 1 November 2019
Tax loss carryback and tax loss carryforward is an action to carry tax loss either back or forward.
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.
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
