Capital loss
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Capital loss is the difference between a lower selling price and a higher purchase price, resulting in a financial loss for the seller.[1] The IRS states that "If your capital losses exceed your capital gains, the excess can be deducted on your tax return".[2]
[edit] References
- ^ Sullivan, Arthur; Steven M. Sheffrin (2003). Economics: Principles in action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. pp. 283. ISBN 0-13-063085-3. http://www.pearsonschool.com/index.cfmlocator=PSZ3R9&PMDbSiteId=2781&PMDbSolutionId=6724&PMDbCategoryId=&PMDbProgramId=12881&level=4.
- ^ IRS TAX TIP 2009-35 IRS TAX TIP 2009-35
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