long-term loss(redirected from Long Term Losses)
A loss on the sale of a capital asset held less than 12 months that can be used to offset a capital gain.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A loss on a security one holds for longer than one year, or a loss from the sale of a capital asset. In both cases, a long-term loss may be used to offset a long-term gain in order to reduce one's tax liability for that year. Additionally, one may carry forward the first $3,000 of a long-term loss to a different tax year, giving one an even lower tax liability.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
Losses on real property sold more than one year after purchase. Compare with long-term capital gains, which are profits earned on real property sold more than one year after purchase.Long-term losses must be deducted against long-term gains.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.