Gift

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Related to Types of Gifts: Gifts in kind

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 ?
The events of September 11, 2001 will play no major factor in the types of gifts purchased:
com also investigated the types of gifts that shoppers are planning to give this year for Mother's Day.
to narrow the list of gifts to the most appealing types of gifts.
Other types of gifts available through Oxfam America Unwrapped include: irrigating a farmer's land for up to a year, starting a small business, and legal training for community activists.
Ask yourself if it is sending the wrong message: Make-up, exercise equipment or clothes may seem appropriate, but these types of gifts have the potential to send a message you don't mean to convey.
Ford's father, Henry Ford II, for his family to make these types of gifts.
Nambe discovered stark regional differences in the types of gifts given when attending or not attending a wedding.