Gift

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Related to gifts: Personalized gifts

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 classic literature ?
It was early morning, and the rosy light shone brightly through the lily-leaves upon her, as Thistle entered, and laid his first gift at the Brownie King's feet.
I hastened to assure him that I should certainly have a gift of some sort ready, since my one wish was to avoid spoiling his pleasure.
Were not the son of Atreus offering you gifts and promising others later--if he were still furious and implacable-- I am not he that would bid you throw off your anger and help the Achaeans, no matter how great their need; but he is giving much now, and more hereafter; he has sent his captains to urge his suit, and has chosen those who of all the Argives are most acceptable to you; make not then their words and their coming to be of none effect.
genius, or only a very distinguished talent, the gift which Amiel nursed so jealously did come into evidence.
For far-seeing Olympian Zeus has given you a wife with many gifts and the blessed gods have brought your marriage fully to pass, and in these halls you go up to the holy bed of a daughter of Nereus.
They tell you of the Old World; as if the Lord had not the power and the will to create the universe in a day, or as if he had not bestowed his gifts with an equal hand, though not with an equal mind, or equal wisdom, have they been received and used.
Ultimately, he went into the most famous jeweller's, and said he wanted to buy a little gift for a lady.
Its being a gift of my brother's need not make the smallest difference in your accepting it, as I assure you it makes none in my willingness to part with it.
I can - Its fount is holier - more divine - I would not call thee fool, old man, But such is not a gift of thine.
The first gift from any Northern person was received from a New York lady whom Miss Davidson met on the boat that was bringing her North.
If your Ladyship thinks so, I will go away directly, and send the gift by post.
The gift or power of being in all places at one time,