Isopropyl alcohol oxidizes to acetone and can slowly form ethers and epoxides. This occurs very slowly while the bottle is closed but it happens much faster (but still pretty slowly) once the bottle is opened. So yes, rubbing alcohol expires. Once it's reached the expiration date, throw it out.
Source(s):
I'm a biomedical engineer. Organic chemistry occupies about 99% of my day.
Cheers
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