Louisiana § RS 47:72 - Limitations on deductions for capital losses
Full text of Louisiana Louisiana Civil Code § RS 47:72 — Limitations on deductions for capital losses, with citation guidance and answers to common questions.
§ RS 47:72. Limitations on deductions for capital losses
Losses from sales or exchanges of capital assets shall be allowed as deductions only to the extent of the gain from such sales or exchanges.
The term "capital assets" means all property of the taxpayer, whether or not connected with his trade or business, except stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business, or property, used in a trade or business, of a character which is subject to the allowance for depreciation provided in R.S. 47:65; and land used in a trade or business of the taxpayer.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 47:72
What does Louisiana Civil Code § RS 47:72 cover?
Section RS 47:72 ("Limitations on deductions for capital losses") is part of the Louisiana Civil Code, the codified statutory law of Louisiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Louisiana § RS 47:72?
A common citation format is "Louisiana Civil Code § RS 47:72" (Louisiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Louisiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Louisiana official source linked on this page or consult a licensed Louisiana attorney.
How does Louisiana § RS 47:72 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Louisiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Louisiana.