Can I use one gift card for two apple ID at the same time?
Can I activate one gift card for two different apple ID and use amount from gift card like bank account?
iPad 2, iOS 7.0.6
No, an iTunes gift card can only be redeemed onto one account, and it can be used to buy content for that account (you can't, for example, redeem it on an account and then use some of it for gifting content to another account).