Corporations may deduct the adjusted basis of inventory plus one-half of the excess of the property's FMV over its adjusted basis if the inventory is used for the care of the ill, needy, or infants.

Name: Corporations may deduct the adjusted basis of inventory plus one-half of the excess of the property's FMV over its adjusted basis if the inventory is used for the care of the ill, needy, or infants.
Brand: Quizplus
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Quizplus · Accepted Answer

This is true according to section 170(e)(3) of the Internal Revenue Code.

Corporations May Deduct the Adjusted Basis of Inventory Plus One-Half