Ordinary Loss

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Definitions

Ordinary Loss Income Tax Deductible Losses Ordinary Income Capital Loss Tax Deduction Taxation

An ordinary loss for income tax purposes is a type of loss that can be deductible against ordinary income. This is usually more beneficial to an individual taxpayer compared to a capital loss, which has limitations on deductibility.

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Definitions

Small Business Corporation Stock (Section 1244 Stock)

Section 1244 Stock Ordinary Deduction Ordinary Loss Capital Loss Tax Benefits Small Business Corporation Stock

Ordinary deduction treatment for certain individuals and partnerships on the sales of stock or in cases of bankruptcy, allowing for ordinary loss treatment up to specific limits.