Capital loss is the difference between a lower selling price and a higher purchase price, resulting in a financial loss for the seller. The IRS states that "If your capital losses exceed your capital gains, the excess can be deducted on your tax return".
Famous quotes containing the words capital and/or loss:
“It is a bore, I admit, to be past seventy, for you are left for execution, and are daily expecting the death-warrant; but ... it is not anything very capital we quit. We are, at the close of life, only hurried away from stomach-aches, pains in the joints, from sleepless nights and unamusing days, from weakness, ugliness, and nervous tremors; but we shall all meet again in another planet, cured of all our defects.”
—Sydney Smith (1771–1845)
“Unfortunately, I am involved in a freedom ride protesting the loss of the minority rights belonging to the few remaining earthbound stars. All we demanded was our right to twinkle.”
—Marilyn Monroe (1926–1962)