Page 567 - Large Business IRS Training Guides

Example 4

Gift Cards - Rev. Proc. 2004-34

Same facts as prior example except that

• The gift cards have an expiration date 12

months from the date of sale,

• F does not accept expired gift cards, and

• F includes unredeemed gift cards in

revenue in its AFS for the taxable year in

which the cards expire.

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