Net

Net means:
the opposite of gross.

1. (adj.) remaining after all relevant deductions have been made from the gross amount. For example, net sales are equal to gross sales minus discounts, returns, and allowances; net profit is gross profit less operating (sales, general, and administrative) expenses; net worth is assets (worth) less liabilities.

2. (vb.) to arrive at the difference between additions and subtractions or between plus amounts and minus amounts. For example, in filing tax returns, long-term capital losses are netted against long-term capital gains.

See also Capital Gain in the American Legal Encyclopedia and Capital Gain in the World Legal Encyclopedia.