- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I want to close my LuLaroe business on 12/31/17. I have several thousand dollars of inventory left. If I donate the remaining inventory what will the final value be?
When reporting the items donated, do I use the wholesale price I paid or the price I would have sold them at retail?
posted
June 4, 2019
4:21 PM
last updated
June 04, 2019
4:21 PM


1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I want to close my LuLaroe business on 12/31/17. I have several thousand dollars of inventory left. If I donate the remaining inventory what will the final value be?
Simple answer: You use the wholesale price, or what you actually paid for it.
It's complicated; see https://ttlc.intuit.com/questions/2579678-donating-business-inventory-books-deduction?jump_to=answer...
It's complicated; see https://ttlc.intuit.com/questions/2579678-donating-business-inventory-books-deduction?jump_to=answer...
June 4, 2019
4:21 PM
Still have questions?
Make a post