Trump's personal businesses are organized as pass-through entities, which allowed him to benefit from tax mitigation, much of which was through loss carry-forward.

川普名下的企业也是直通实体，这已让他通过结转亏损的方法从减税政策中受益良多。

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Eighteen days later Mr Flowers had acquired a controlling interest in Enstar, a small firm in Alabama that had two big attractions: a stockmarket value beneath its cash holdings, and a tax-loss to carry forward.

ECONOMIST: Face value

If you still have a NOL remaining, you can carry that loss forward for up to 20 years.

FORBES: How You Can Lose Money on Paper And Still Win at Tax Time Like Romney

If your losses exceed the allowable limits for any tax year, you can carry the loss forward to later years subject to certain limitations.

FORBES: Taxes From A To Z (2013): U Is For Unrealized Gains and Losses