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Long-Term Capital Loss

Long-Term Capital Loss Definition

Long-Term Capital Loss is a tax term relating to the profit on the sale of capital assets held for over a year. If the asset is sold for less than it was purchased, a long-term capital loss occurs. Capital gains and losses can be netted out in a tax year, that means that long-term losses can be deducted from long-term gains. This way the amount on which potential tax may be due is reduced.  Up to the first $3,000 of any net gain or loss can be carried over into future years.

RELATED TERMS
Capital loss
Long-Term Capital Gain
RELATED CATEGORIES
Taxes




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