What is the meaning of Loss Carry-Back (Carry-Forward)?

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Loss Carry-Back > Carry-Forward

Loss Carry-Back (Carry-Forward) is a tax provision that allows operating losses to be used as a tax shield to reduce taxable income in prior and future years. Losses can be carried backward for up to three years and forward for up to 15 years under current tax codes.

Barry Goldsmith
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APABarry Goldsmith. (2010). Loss Carry-Back (Carry-Forward). Retrieved September 25, 2026, from http://smartdefine.org/loss_carry-back_(carry-forward)/definitions/1157576
ChicagoBarry Goldsmith. 2010. "Loss Carry-Back (Carry-Forward)" http://smartdefine.org/loss_carry-back_(carry-forward)/definitions/1157576 (accessed September 25, 2026).
HarvardBarry Goldsmith 2010, Loss Carry-Back (Carry-Forward), Smart Define, viewed 25 September, 2026, <http://smartdefine.org/loss_carry-back_(carry-forward)/definitions/1157576>.
MLABarry Goldsmith. "Loss Carry-Back (Carry-Forward)" 21 October 2010. Web. 25 September 2026. <http://smartdefine.org/loss_carry-back_(carry-forward)/definitions/1157576>