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Gift

What Does Gift Mean?
Property, money or asset that one person transfers to another while receiving nothing in return.

Investopedia explains Gift
If you receive a gift, you aren't required to report it as income.

Related Terms

Asset
Cy Pres Doctrine
Estate
Estate Tax
Gift Causa Mortis
Gift Splitting
Gift Tax
Honorarium
Minimum-Interest Rules
Philanthropy
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Related Links

Gift Tax - Information from the IRS on the tax implications of gifts.
Skipping-Out on Probate Costs - Don't let bad estate planning lead to unnecessary costs and stress for your inheritors.
If Roth IRA assets are used to make an annual gift tax exclusion, can they still be considered Roth
Personal Loans: To Lend Or Not To Lend? - Attempting to help a loved one with a cash loan can put a strain on your relationship - and your bank account.

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