Carry-Over

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Carry-Over

The designation of the process by which net operating loss for one year may be applied, as provided by federal tax law, to each of several taxable years following the taxable year of such loss.

References in periodicals archive ?
If the debt discharged is qualified farm debt, discharge of indebtedness income is excluded to the extent the taxpayer can offset the income by reducing the basis of the properties, reducing NOL and capital loss carry-overs, and reducing foreign tax credits and general business credit carry-overs.
We encourage the government to issue similar remedial relief where the SRLY rules overlap with section 384 thereby limiting the use of credit carry-overs.
The agency had 21,071 cases assigned in FY97, some carry-overs from the previous years and others that are still in progress, as well as those cases that were rejected.
Men had to be retrained to overcome their "biological" proclivities, and the nature of the relationship between the sexes had to be redefined through new rules of speech and expression, since the old rules and forms were carry-overs from a male-dominated society.
Like Jelly Roll Morton in jazz and Elvis Presley in rock and roll, Patton stands near enough to the form's beginnings to be seen as a kind of avatar--a point Robert Palmer in his excellent book Deep Blues (Viking) has developed into a thesis about the music's historical development from African cultural carry-overs to proto-rock.
Daily Politis reported on Monday that as of March this year Anastasiades, as well as members of his cabinet who are carry-overs from the first administration, had stopped instructing the treasury to deduct their contributions.
Among the stories The Banner covered this year were three that were carry-overs from years past.
There are no other opens countrywide, but both Sheffield and Swindon can expect plenty of interest in their big Pick 6 Jackpot carry-overs.
With less than seven months to an election, the Government set out a streamlined programme of 15 Bills - three of them carry-overs from the previous session and two in draft form.