write-off

[rahyt-awf, -of]
noun
1.
a cancellation from the accounts as a loss.
2.
an uncollectable account.
3.
a reduction in book value; depreciation.
4.
Informal. a person or thing that is given up as hopeless or pointless: Joe's college career is a write-off.

Origin:
1745–55; noun use of verb phrase write off

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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WordNet
write-off

noun
1. (accounting) reduction in the book value of an asset 
2. the act of cancelling from an account a bad debt or a worthless asset 
WordNet® 3.0, © 2006 by Princeton University.
Cite This Source
Example sentences
Our kitchen tent was a complete write-off, as the biggest rock had completely
  flattened the stone kitchen.
Maybe folks who own storage facilities could dedicate a section of closet-sized
  lockers for the homeless as a tax write-off.
Debt forgiveness is, loosely, a write-off writ large.
The more official aid a country receives, the bigger the eventual write-off
  private bondholders may suffer.
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