carryback

(redirected from Loss Carry-Overs)
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carryback

n. in taxation accounting, using a current tax year's deductions, business losses or credits to refigure and amend a previously filed tax return to reduce the tax liability. (See: carryover)

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1374, loss of net operating loss carry-overs, and the inventory LIFO recapture tax.
Generally, the DLF can be expressed as the excess of a subsidiary's loss carry-overs and aggregate adjusted basis in its assets, over the value of its stock (plus any liabilities) immediately after the disposition of its stock by a consolidated group member (Regs.