Not that I know about taxes but I think that would be ridiculous because you could have bought that gift card from your own taxed income and it would suck if you have to pay tax again on that. That said, the other side of the argument could be that you may have received the GC as a gift and therefore have to pay tax on it but I didn't think about tax on selling GCs until I read your post. Has any company sent out 1099's for selling GCs?