Yes, loss is a Scrabble word!

Noun

1. Something that is lost

2. Gradual decline in amount or activity

3. The act of losing someone or something

4. The disadvantage that results from losing something

5. The experience of losing a loved one

6. The amount by which the cost of a business exceeds its revenue

7. Military personnel lost by death or capture

8. Euphemistic expressions for death