Am I able to deduct a customer discount?

[gesmartinx3]

For example - An item costs $100.  Once a month I discount that item by 20% and the customer only pays $80.  Can I deduct the $20 on my taxes?

[Lisa995 · Accepted solution]

If you claim the $100 you WOULD HAVE received as income, then you can deduct the $20 discount. 

Its more common to report the $80 you received as income.

You cannot report income of $80 and the $20 discount given.

[gesmartinx3]

Lisa - I appreciate your quick response! Thanks so much for your assistance.

[terpstratree]

Lisa, 

I just want to confirm that there is no benefit (for tax purposes) in tracking discounts?

Robyn