carryforward
/ˈkɛriˌfɔrwərd/
noun
- A tax provision that allows a business to apply a current year's net operating loss to future years' profits to reduce taxes.
- Net operating loss carryforwards can offset taxable income for up to 20 years.
- The accountant tracked the carryforward balance on the company's books.
- The company decided to use a carryforward instead of a carryback.