If a business bought 2 products from China at $1 each.
Sold 1 for $10, and donate the other one to a non-profit organization.
How to calculate this business' taxable income?
$10 (revenue) - $2 (product costs) - $10 (donnated product value) = -$2?
Or
$10 - $2 = $8?
Anyone knows the correct treatment?
