To reduce your inventory for the donation, indicate
that the donated inventory was "removed for personal use". Then you can indicate your "personal donation" under the Deductions
and Credits tab in the Charitable Donations section. See the info below on how to value your donation.
IRS
Pub
334 Donation of inventory.
If you
contribute inventory (property that you sell in the course of your business),
the amount you can claim as a contribution deduction is the smaller of its fair
market value on the day you contributed it or its basis. The basis of donated
inventory is any cost incurred for the inventory in an earlier year that you
would otherwise include in your opening inventory for the year of the
contribution. You must remove the amount of your contribution deduction from
your opening inventory. It is not part of the cost of goods sold.
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