Vd = I Z for AC 1 phase
I = current
Z = impedance (magnitude of R and reactive)
iirc 12 cu is ~2 ohm per 1000'
a good rule is 3 to 5% drop...3 on feeders, 5 is, imho, OK on a branch circuit...
that's why most equipment is rated 115 for use on a 120 circuit...
0.95 x 120 ~ 114...
so let's say we size for 5V of drop...a little margin of error...
what's the maximum run w/#12 that we can make to have 5V (~5%) drop?
let's assume worse case, fully loaded 20A circuit, allowable is 80% or 16A
5 = 16 x 2L/1000 x 2
L = distance 1 leg runs in feet, must account for supply and return path, so 2L
solving L = 5 x 1000/(2 x 16 x 2) ~ 78 ft...
so I would say 100' is a decent rule of thumb...~6V drop
as long as any connections/terminations are done well, they add Z, and therefore Vdrop
another thing to consider: the utility usually supplies a bit over 120