long-term capital loss
Defined in 1 place of the United States Code.
The term “long-term capital loss” means loss from the sale or exchange of a capital asset held for more than 1 year, if and to the extent that such loss is taken into account in computing taxable income.
Source
- 1994–present26 U.S.C. § 1222Internal Revenue Code · Other terms relating to capital gains and losses · for purposes of this subtitle