Gift

(redirected from gifts)
Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Idioms, Encyclopedia.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in classic literature ?
43-49) From Athens the son of Peteous, Menestheus, sought her to wife, and offered many bridal-gifts; for he possessed very many stored treasures, gold and cauldrons and tripods, fine things which lay hid in the house of the lord Peteous, and with them his heart urged him to win his bride by giving more gifts than any other; for he thought that no one of all the heroes would surpass him in possessions and gifts.
And after golden-haired Menelaus he offered the greatest gifts of all the suitors, and very much he desired in his heart to be the husband of Argive Helen with the rich hair.
Take the gifts, and go, for the Achaeans will then honour you as a god; whereas if you fight without taking them, you may beat the battle back, but you will not be held in like honour."
Ulysses answered, "Most noble son of Atreus, king of men, Agamemnon, Achilles will not be calmed, but is more fiercely angry than ever, and spurns both you and your gifts. He bids you take counsel with the Achaeans to save the ships and host as you best may; as for himself, he said that at daybreak he should draw his ships into the water.
"Can your idols walk or speak, or have they the glorious gift of reason?" demanded the trapper, with some indignation in his voice; "though but little given to run into the noise and chatter of the settlements, yet have I been into the towns in my day, to barter the peltry for lead and powder, and often have I seen your waxen dolls, with their tawdry clothes and glass eyes--"
I am but little gifted in the fables of what you call the Old World, seeing that my time has been mainly passed looking natur' steadily in the face, and in reasoning on what I've seen, rather than on what I've heard in traditions.
So I want by my gift to show him that I am mending my ways, and beginning to conduct myself better.
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.
But something held him back: not so much [31] a reluctancy of temperament, or of physical constitution (common enough cause why men of undeniable gifts fail of commensurate production) but a cause purely intellectual--the presence in him, namely, of a certain vein of opinion; that other, constituent but contending, person, in his complex nature.
But if, as Amiel himself challenges us to do, we look below the surface of a very equable and even smoothly accomplished literary manner, we discover, in high degree of development, that perplexity or complexity of soul, the expression [23] of which, so it be with an adequate literary gift, has its legitimate, because inevitable, interest for the modern reader.
And as the crown shone on the head that Lily-Bell bent down on Thistle's breast, the forest seemed alive with little forms, who sprang from flower and leaf, and gathered round her, bringing gifts for their new Queen.
"Keep your crown, Lily-Bell, for yonder come the Spirits with their gifts to Thistle," said the Brownie.