Word forms: (present) carries forward, (past) carried forward, (perfect) carried forward, (progressive) carrying forward
(Accounting: Tax) If you carry forward a loss or credit, you apply it to a following tax year. ⇒ It is extremely rare for advertising and market research expenditure to be carried forward; it is generally written off in the year in which it is incurred. ⇒ The balance sheet's asset, liability, and owner's equity balances are permanent running totals that are carried forward to the next accounting year. ⇒ If you carry forward a loss or credit, you apply it to a following tax year.
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