Different loss models of Soil and Conservation Services (SCS), Green and Ampt, Initial-Constant, Deficit- Constant, Constant Fraction, Exponential and Soil Moisture Accounting (SMA) methods have been compared using the HEC-HMS event-based rainfall -runoff simulation with respect to the effect of precipitation loss on the runoff generation in the Karoon III basin. The SMA method, with the maximum N.S., 0.81 and 0.69 and the minimum PW RMSE, 148 and 143 in calibration and verification was the best in the stream flow simulation and the SCS and Constant Fraction were better than others in validation, following the SMA. A comparison between the simulated and observed key variables showed that the SMA method with minimum average percent difference of simulated volume, peak flow and hydrograph time of peak occurrence, was the best one in calibration. In verification, the SMA was the best in hydrograph volume simulation, SCS and SMA in the peak flow, and Initial and Constant and Green and Ampt in time of peak occurrence.