Definition of "carryover"
  1. A procedure that applies unused tax deductions and credits from a given year to lessen the tax liability in the following years
How to use "carryover" in a sentence
  1. The system allowed for a carryover of her unclaimed deductions to the next fiscal year.
  2. Because of the carryover rule, his unused tax credits from this year will reduce his liability next year.
  3. She relied on carryover of her excess deductions to offset tax for the upcoming years.

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