write off (one's) losses

write off (one's) losses

1. To record one's financial losses during the accounting process. We've had such a rough third quarter that being able to write off our losses for a tax break is the only upside.
2. By extension, to move on from a situation that has gone badly. I started out as an engineering major, but after failing all of my classes, I decided to write off my losses and switch to communications.
See also: loss, off, write
Farlex Dictionary of Idioms.
See also:
  • What do you think?
  • what does (one) think?
  • pad (one's)/the accounts
  • padding
  • three moves are as bad as a fire
  • moving three times is as bad as a fire
  • make up lost ground
  • come out the little end of the horn
  • end (something) on a high note
  • go out on a high note