In the federal US courts it's usually defined like this: (A) General Rule.—Subject to the exclusions in subdivision (D), loss is the greater of actual loss or

In the federal US courts it's usually defined like this: (A) General Rule.—Subject to the exclusions in subdivision (D), loss is the greater of actual loss or intended loss. (i) Actual Loss.—“Actual loss” means the reasonably foreseeable pecuniary harm that resulted from the offense. (ii) Intended Loss.—“Intended loss” (I) means the pecuniary harm that the defendant purposely sought to inflict; and (II) includes intended pecuniary harm that would have been impossible or unlikely to occur (e.g., as in a government sting operation, or an insurance fraud in which the claim exceeded the insured value).