Gift

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Gift

An asset of any kind that an individual transfers to another individual while neither receiving nor expecting anything in return. A gift one receives is taxable in the United States, but only if its value exceeds $13,000 (in 2009) and is not specifically excluded. For example, gifts between spouses are not taxable under any circumstances. See also: Estate, Gift Tax.

Gift

A transfer of property from one person or entity to another without consideration or compensation. For income tax purposes, the words "gift" and "contribution" usually have separate meanings, the latter word being used in connection with contributions to charitable, religious, etc., organizations, whereas the word "gift" refers to transfers of money or property to individuals.
References in periodicals archive ?
While there are many lab studies proving gift exchange mechanism, field evidence is not always convincing [Kube, et al.
The difficult balance between self and other and between genuineness and artificiality is magnified for receivers who feel they must manage the feelings of everyone else in the gift exchange.
Items received during the Gift Exchange Tour will be donated to local Goodwill organizations in select markets.
For the purposes of this article, the important feature of a secret Santa gift exchange is that it concentrates each person's gift rather than spreading it around.
In this article we experimentally study a repeated gift exchange game that allows for reciprocal exchange in both a simple form and a complex form.
Klein, who demonstrates the social and political importance as well as the self-interested and unequal dimension of gift exchange in Queen Elizabeth's court, posits a difference between gift exchange and commodity exchange, claiming that unlike economic exchange, gift-giving "entails unspecified obligations" (468, original emphasis).
Attention to gift exchange, particularly the leverage wielded by a giver who was subordinate, illuminates the mutual constitution of social relations between the giver and the recipient of the gift.
Preston Kelly annually hosts an online version of the popular holiday gift exchange game dubbed "White Elephant.
Already underway, the gift exchange will run until 11:59pm on Dec.
Set a budget among family and friends or maybe establish a gift exchange program.
Broadous said his sister's family often has a gift exchange where items a family member doesn't want or need are picked up by another family member instead of the item being thrown away.
Ask those contributing to this year's gift exchange to keep it green.