I've done some searching on the forums and on-line but haven't found anything that relates to this situation:
I have gotten into the habit of purchasing gift cards for discounted rates through giftcardgranny.com. If you're not familiar, this website is a marketplace where you purchase gift cards at a discount to value. My question is in regards to using these for expenses related to a business, which in my case is land lording. If I purchase $100 of Home Depot gift cards for $90 and then buy items at Home Depot that total $100 is my expense $100 or $90? Is there any IRS publication that covers this scenario?
Any insight or advice would be appreciated.