MLchartDataset catalogue

Carryover

Term · Law · MLC-T-LAW-000874

A tax rule that lets a taxpayer apply an unused deduction, credit, or loss from one tax year to later years. For example, an individual's net capital losses beyond the $3,000 annual deduction limit carry forward until fully used. Carryover periods differ by item: most net operating losses arising after 2017 carry forward without a time limit, while unused general business credits carry forward 20 years.

Table 1. Record
IdentifierMLC-T-LAW-000874
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000874",
  "term": "Carryover",
  "field": "Law",
  "definition": "A tax rule that lets a taxpayer apply an unused deduction, credit, or loss from one tax year to later years. For example, an individual's net capital losses beyond the $3,000 annual deduction limit carry forward until fully used. Carryover periods differ by item: most net operating losses arising after 2017 carry forward without a time limit, while unused general business credits carry forward 20 years.",
  "url": "https://mlchart.com/terminology/law/carryover/"
}

Record 681 of 5,441 in Law terminology (MLC-0107). Request the full dataset.