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Simple English definitions for legal terms

long-term capital loss

Read a random definition: likelihood of confusion

A quick definition of long-term capital loss:

A long-term capital loss is when you lose money by selling something you've owned for a long time, like a house or stocks. It's not a good thing because you're losing money, but it's different from losing something in a disaster or accident. The government has rules about how you can use long-term capital losses to reduce your taxes.

A more thorough explanation:

A long-term capital loss is when you sell or exchange a capital asset for less than what you paid for it after holding it for an extended period, usually at least 12 months. This loss can be used to offset capital gains and reduce your tax liability.

  • If you bought a stock for $1,000 and sold it for $800 after holding it for 18 months, you would have a long-term capital loss of $200.
  • If you sold a rental property for $200,000 but its adjusted value was $250,000, you would have a long-term capital loss of $50,000.

These examples illustrate how a long-term capital loss occurs when you sell a capital asset for less than its original cost after holding it for an extended period. This loss can be used to offset capital gains and reduce your tax liability.

long-term capital gain | long-term debt

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
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JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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