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 ?
Even a non-event is popular among group gift givers.
The internet is very popular for gift givers as more than two-thirds (69 percent) of women nationwide purchased gifts online in the last 12 months.
The report also stated that 51 percent of gift givers opted to give money for their most recent wedding gift; 16.
com Gift Certificates, gift givers visit the giving site and simply log into Facebook and/or, Gmail or Yahoo email account to select the people they wish to give to-as many as 40 people each day for the length of the initiative.
Likewise, gift givers agree by 44 percent that general purpose cards are good to give people who are difficult to shop for.
Maritz(R) Poll Reveals 88 Percent of Americans Consider Themselves Generous Gift Givers
The data prove that generous gift givers will spend an average of $367 more on gifts this holiday season than non-generous gift givers.
com[R] Reveals Patent-Pending Breakaway Boxers for Gift Givers to Break into the Holiday Spirit
Together, they developed The Flower Fundamentals, helping people to become the savviest, most sophisticated floral gift givers they can be.
According to The NPD Group, a leading consumer and retail information company, music gifts will be as popular among gift givers this year as they were last year, although gift cards that allow people to purchase CDs and digital music will play a larger role at retail this year - both online and off.
To date gift givers have spent $1,034 on gifts for holidays and occasions, nearly 20 percent more than they spent in the same period last year.
The Wave has really caught the attention of gift givers this year, especially for boys in the 8-to-16-year age range," said Nanette DiFalco, vice president of public relations for FAO Schwarz.