Definition of "Loss carryback"

Tom & Robin  Tyson (The Tyson Team) real estate agent
Tom & Robin Tyson (The Tyson Team), Real Estate Agent EXIT Real Estate Gallery

Ruling that, under current tax law, if an insurance company is to use a loss carryforward accounting adjustment, the company must first offset a net income loss in a specified time period against a net income gain in the three preceding years.

 

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