Carryover from 2004 to 2005, then it becomes 2005's loss
Carryover from 2005 to 2006, then it becomes 2006's loss
Carryover from 2006 to 2007, then it becomes 2007's loss
etc., etc..
Carryover from 2005 to 2006, then it becomes 2006's loss
Carryover from 2006 to 2007, then it becomes 2007's loss
etc., etc..