Gift of Inventory
Inventory is all property held for sale in the ordinary course of your trade or business. When sold, those assets produce ordinary income for your business. If an inventory item is deducted as a charitable contribution, it cannot be deducted again as part of the cost of sales of the businesses. Donations of inventory are generally deductible at cost.
For any questions you may have on a Gift of Inventory, please contact us. We will be glad to help you.
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