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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John Malone who controls Liberty loves nothing more than tax loss carry forwards.

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Some of their tricks were old-school buying profitable but run-down companies rich in tax-loss carry-forwards, for example.

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The tax benefit stems from so-called tax-loss carry-forwards and other provisions, which allow companies to use losses in prior years and costs related to pensions and other expenses to shield profits from U.S. taxes for up to 20 years.

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