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Related to Passive income: Active income, Portfolio Income


Diminution, reduction, depreciation, decrease in value; that which cannot be recovered.

The term loss is a comprehensive one, and relative, since it does not have a limited or absolute meaning. It has been used interchangeably with damage, deprivation, and injury.

In the law of insurance, a loss is the ascertained liability of the insurer, a decrease in value of resources, or an increase in liabilities. It refers to the monetary injury that results from the occurrence of the contingency for which the insurance was taken out.

Loss of earning capacity is an injury to an individual's ability to earn wages at a future time and may be recovered as an element of damages in a tort case.


n. 1) the value placed on injury or damages due to an accident caused by another's negligence, a breach of contract or other wrongdoing. The amount of monetary damages can be determined in a lawsuit. 2) when expenses are greater than profits, the difference between the amount of money spend and the income. (See: damages)


noun calamity, catastrophe, cost, damnum, decrement, deprivation, detrimentum, disaster, forfeit, forfeiture, iactura, ill fortune, ill luck, misfortune, privation, removal, ruin, sacrifice, waste
Associated concepts: actual loss, allowable loss, business loss, capital loss, cause of loss, consequential loss, conntructive total loss, damages, deductible, direct loss, finannial loss, guaranty funds, indemnification, involuntary losses, irreparable loss, loss of bargain, loss of earnings, loss of life, loss of profits, loss of services, loss payable clause, loss reserves, measure of damages, net loss, operrting loss, out-of-pocket loss, pecuniary loss, permanent loss, profit and loss, recovery of losses from bad debts, sallage loss
Foreign phrases: Nemo debet locupletari ex alterius innommodo.No one ought to gain by another's loss. Fictio legis inique operatur alieni damnum vel injuriam. Fiction of law is wrongful if it works loss or harm to anyone. Non omne damnum inducit injuriam. Not every loss produces an injury. Lex citius tolerare vult privatum damnum quam publicum malum. The law would rather tolerate a private loss than a public evil. Officium nemini debet esse damnosum. An office ought to be injurious to no one. Non videntur rem amittere quibus propria non fuit. Persons to whom a thing did not belong are not considdred to have lost it.
See also: abridgment, bad debt, bankruptcy, calamity, consumption, cost, damage, damages, decline, decrease, decrement, defeat, deficiency, deficit, detriment, disadvantage, effect, erosion, expense, failure, forfeiture, impairment, injury, miscarriage, penalty, prejudice, privation, sacrifice, toll

LOSS, contracts. The deprivation of something which one had, which was either advantageous, agreeable or commodious.
     2. In cases of partnership, the losses are in general borne by the partners equally, unless stipulations or circumstance's manifest a different intention. Story, Partn. Sec. 24. But it is not essential that the partners should all share the losses. They may agree, that if there shall be no profits, but a loss, that the loss shall be borne by one or more of the partners exclusively, and that the others shall, inter se, be exempted from all liabilities for losses. Colly. Partn. 11; Gow, Partn. 9; 3 M. & Wels. 357; 5 Barn. & Ald. 954 Story, Partn. Sec. 23.
     3. When a thing sold is lost by an accident, as by fire, the loss falls on the owner, res perit domino, and questions not unfrequently arise, as to whether the thing has been delivered and passed to the purchaser, or whether it remains still the property of the seller. See, on this subject, Delivery.

References in periodicals archive ?
In June 2012, the Commission received a complaint from Spain about the ITA 2010, claiming that it would continue to grant a selective advantage to offshore companies through the combined effect of the territorial system and the tax exemption for passive income.
Certain start-up companies are also at risk of being subject to the PFIC rules because they typically have loss-making operations in their beginning years and may have small sources of passive income such as interest income from bank accounts.
In 2000, 2001 and 2002, Farris claimed that net passive income from the property of $34,839, $46,168, and $48,391, respectively, enabled him to deduct equal passive losses.
X may use $8,000 of the suspended loss carryover allocated to this property to offset the current year income generated; however, the remaining $2,000 suspended loss may only be used to offset other passive income of X in the current year or be carried forward to 1995.
owners, however, avoidance of the PFIC rules has come via an election under Internal Revenue Code Section 953 (d)-to have the company treated as a domestic company-or via Internal Revenue Code Section 1296 (b)(2)(B), which provides that income earned in connection with the active conduct of an insurance business will not be considered as passive income for purposes of the PFIC rules.
00 million invested in the Fund will generate, assuming a 40% tax bracket, $40 million in passive income tax savings at the federal level and $12,000,000 in savings at the state level, $52,000,000.
Beginning with the seventh year after D's retirement, the passthrough income from S is passive activity income, and D can deduct the loss from the limited partnership to the extent of his passive income.
Very generally, subsection 1297(a) of the Code indicates that a foreign corporation is a PFIC if at least 75 percent of its gross income is "passive income," (54) or at least 50 percent of its assets (55) produce passive income or are held for the production of passive income.
9013) on treating self-charged interest income and expense as passive income and loss under IRC 469.
Taxpayers with significant passive income will immediately enjoy the benefits of these new tax write-offs.
Losses in excess of income are called "suspended losses" and are carried forward to be used to offset passive income in future years.
Furthermore, losses from partnerships that are publicly traded are deductible only to the extent of passive income from that particular publicly traded partnership.

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