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  • RE: Stock purchased with gift cards

    Ok thank you. So just to clarify, this contradictory answer I found on the internet is false? "You can deduct any expenses that are ordinary and necessary for the business. The source of the money is not relevant. The gifted money was your money, the same as the cash in your wallet, the funds in your bank account or the credit limit on your credit card. "
  • Stock purchased with gift cards

    I'm a sole trader. Can I record stock purchased with non-cash gift cards as an expense if the gift cards were gifted to me?