Common use of Carryback Contributions Clause in Contracts

Carryback Contributions. A contribution is deemed to have been made on the last day of the preceding taxable year if it is made by the deadline for filing the Depositor’s income tax return (not including extensions), and the Depositor designates that contribution as a contribution for the preceding taxable year. For example, if the Depositor is a calendar year filer and makes a Xxxxxxxxx ESA contribution on or before April 15, the contribution is considered to have been made for the previous tax year if the Depositor designates it as such.

Carryback Contributions. A contribution is deemed to have been made on the last day of the preceding taxable year if it is made by the deadline for filing the Depositor’s income tax return (not including extensions), and the Depositor designates that contribution as a contribution for the preceding taxable year. For example, if the Depositor is a calendar year filer and makes a Xxxxxxxxx ESA contribution on or before April 15, the contribution contribu- tion is considered to have been made for the previous tax year if the Depositor designates it as such.