A system and method for creating MR images using mask data that is copied forward for on-the-fly image subtraction for use within such techniques as MR angiography is disclosed. The invention includes acquiring an MR mask image comprised of a plurality of k-space lines, and then copying the k-space line data of the MR mask image into a number of different memory locations. The number of different memory locations corresponds to a preselected number of MR image acquisitions as set by an MR operator. The invention next includes acquiring the preselected number of MR images, each comprised of k-space line data. As the k-space line data is acquired, it is then immediately accumulated in one of the memory locations having the MR mask image k-space line data. By setting a polarity of the data stored, each acquired k-space line of an acquired MR image is subtracted from a corresponding k-space line of the MR mask image in real time. The image is then reconstructed using the subtracted k-space line data. After each additional MR image acquisition, the data is accumulated with the masked data, which result is used for reconstructing an MR image without the need to transfer the data to another workstation for separate processing or post-processing. In this manner, the acquired data is automatically subtracted on-the-fly, thereby yielding fluoroscopic images, for example, without the prior art penalties of excessive image reconstruction time and image post-processing time.