Comments on: Is a gift card purchase tax deductible? http://giftcardscheap.com/purchase-deductible/ gift cards & gift certificates at discount prices Fri, 02 Apr 2010 17:25:59 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: v b http://giftcardscheap.com/purchase-deductible/comment-page-1/#comment-261 v b Sun, 03 May 2009 09:31:11 +0000 http://giftcardscheap.com/?p=598#comment-261 You use your basis in the gift certificate as if you paid cash. Eg, I spend $50 and give you a gift certificate. Your basis in the gift certificate is my $50. Eg, you get a free gift certificate on Amazon.com for spending too much money at Christmas. Your basis is $0, it's still zero. You use your basis in the gift certificate as if you paid cash.

Eg, I spend $50 and give you a gift certificate. Your basis in the gift certificate is my $50.

Eg, you get a free gift certificate on Amazon.com for spending too much money at Christmas. Your basis is $0, it's still zero.

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