stevenje
Senior Member
- Location
- Yachats Oregon
How do you price out new electrical material that I am going to donate to a local organization? Is there an IRS approved formula?
Thanks.
Thanks.
Pricing donated electrical materials
- Thread starter stevenje
- Start date
- Status
kwired
Electron manager
- Location
- NE Nebraska
- Occupation
- EC
Your purchase cost is already a deduction. The fact you never received any payment for it is what reduces your income as a result involving those items. There is nothing special you really need to do.
If your item(s) were taken out of inventory, you need to adjust cost of your inventory - same thing happens with any other type of inventory loss anyway.
- Status